Gifts that Cost You Nothing Now
Simply by signing your name, you can create a legacy of educating generations of students for careers that will positively impact California, the nation and the world. When you include University of the Pacific in your plans, you are helping students achieve the greatest success possible for their education.
Once your family and friends are provided for, we hope you will consider making achievement and success for Pacific students a part of your life story through your legacy gift.
Gifts by Bequest
Arranging a legacy gift in your will or trust is one of the easiest ways and most popular ways to support students at University of the Pacific.
Here are the ways that most people like to make this lasting gift to Pacific:
- Residual bequest: a percentage of the remainder of your estate after other specific legacies have been fulfilled.
- Specific bequest: a specific dollar amount or stated fraction of your estate or a specified gift in kind (collections, art, books, jewelry, and so on).
- Contingent bequest: a gift that is originally intended for other beneficiaries but in the event of their prior passing, is redirected as a charitable donation.
Please contact Jonelle Beck, JD ‘00, Executive Director of Estate and Gift Planning, at firstname.lastname@example.org or 209-946-2501 if you have any questions.
Gifts by Beneficiary Designation
When you make a gift to University of the Pacific from your retirement plan, insurance plan, or other assets, you ensure that generations of people seeking higher education will thrive, thanks to your generosity.
It’s as simple as contacting the firm that holds your assets and asking them for a beneficiary form to fill out.
Retirement Funds Gift. Many people choose to name University of the Pacific as a beneficiary of a retirement fund to reduce their taxes while giving to students who can change the world.
- Reduce or eliminate taxes on retirement assets.
- Remove highly taxable assets from your estate by direct beneficiary designation.
- Reduce or avoid probate fees.
- There is no cost to you now.
To name Pacific as a beneficiary of your retirement plan, contact your bank or insurance company to see whether a change of beneficiary form must be completed.
Life Insurance Policy Gift. If you have a life insurance policy that has outlasted its original purpose, you can use it to fund a legacy gift while also enjoying tax savings during your lifetime.
- Donate ownership and receive a charitable income tax credit for the market value of the policy.
- Receive additional tax benefits by making annual gifts so that we can pay the premiums.
- Some donated policies can be cashed in and put to good use right away.
- If you retain the policy and name us as beneficiary, the proceeds of your policy will be paid to Pacific and your estate will receive the tax credit from the charitable gift receipt.
Savings Bonds. If you have bonds that have stopped earning interest and that you plan to redeem, you will owe income tax on the appreciation. In the end, your heirs will receive only a fraction of the value of the bonds in which you so carefully invested. Since University of the Pacific is a tax exempt institution, naming us as a beneficiary ensures that 100 percent of your gift will go toward enriching students’ higher education.
CDs, Bank Accounts, and Brokerage Accounts. Naming University of the Pacific as the beneficiary of a certificate of deposit, a checking or savings bank account, or a brokerage account is one of the easiest ways to support the success of college students for years to come.
Donor Advised Fund residuals. Final distribution of contributions remaining in a Donor Advised Fund is governed by the contract you completed when you created your fund. We hope you will consider naming University of the Pacific as a “successor” of your account or a portion of your account value.
Please contact Jonelle Beck, JD ‘00, Executive Director of Estate and Gift Planning, at email@example.com or 209-946-2501 if you have any questions.