Bequests are the simplest form of deferred gifts and are clearly the most popular form of deferred gifts at Wisconsin, with more than 90 percent of the deferred gifts received coming from estate provisions, made either through a simple will or trust.
There are other possibilities, including various forms of life income gifts, gifted insurance policies and gifts of retirement plan assets.
| Number of Gifts Received 2010 | |
|---|---|
| Bequests, Trusts and Insurance | 119 |
| Gift Annuities (including deferred) | 30 |
| Charitable Remainder Trusts | 7 |
| Total Foundation Deferred Gifts | 156 |
People accomplish many goals with bequests and other deferred gifts. Some are used for the greatest needs of the University. Most, however, are restricted in some way, at least to a specific department or use (such as undergraduate scholarships). Some are intended to be used outright and some become permanent endowment funds for a specific purpose.
Endowment gifts are those in which the principal is not spent, but held and invested. The annual earnings from an endowment fund are then used by the University for the purpose the donor has specified. Endowments provide a permanent stream of income upon which the named University division can rely for its future needs.
If you are considering making a deferred gift, we hope that you choose to consult with the gift planners at the Foundation. The Foundation staff regularly works with people like you, your attorneys and other advisors in the gift planning process. We can assist in various ways, including identifying the current correct legal names of departments or units, as well as consulting with you on the type of gift that may be best suited to your needs and suggesting language that will carry out your wishes.
The chart on this page details the deferred gifts that the Foundation received in 2010. The Bequests, Trusts and Insurance category includes cash and assets received from individuals who have passed on and left gifts to the Foundation. The other categories refer to various forms of life income gifts through which someone has made a gift, but retained for themselves or gifted to others the right to receive income.
When you consider leaving a legacy that will benefit the University of Wisconsin-Madison, you have a number of choices. You need to decide whether using a simple bequest is the best for you or if something more complex, like a life income gift, better meets your needs.
The gift planning staff at the Foundation can assist you and your advisors in this process, explaining how various life income plans work and suggesting language to use that will carry out your wishes.