Do Your Plans Still Fit?
Recent years have been
ones of tremendous change.
Many have found that tax law
revisions, dramatic economic
fluctuations, and other events
have greatly affected their longterm
financial plans.
Keeping Up to Date
When was the last time you
updated your will and other
long-range plans? Even the best
and most comprehensive plans
can become inadequate over
time.
Many events can affect your
will, living trust, or other estate
plans. The birth of a child or
grandchild is one example.
A move to another state or a
change in marital status are others.
Even changes in the value of
your assets can call for revisions
in your plans.
“I took a close look at my ‘to
do’ list a few years ago after my
sixth grandchild was born and,
sadly, my husband Jim passed
away. Getting my plans updated
was at the top of my list,” says
Marian Accinno Loftin, ’58
(College of Education) of
Dothan, Alabama.
Things Change
Your will and other plans
should reflect your thoughts,
desires, and financial picture
at a given time. When your
circumstances change, so should
the documents that mirror them.
Fortunately, most changes in
personal and philanthropic goals
can be anticipated and provided
for through careful planning.
“After Carl retired
last year, we decided it
was time to update our
plans,” says Ann Jones,
’62 (College of Arts and
Sciences), of Birmingham,
Alabama.
Provide Future Support
You may be surprised
to learn that there are
actually ways to promote
enhanced security
for yourself, a spouse,
and/or others while also
creating a legacy that
will serve to provide future support
to your charitable interests,
such as UA.
“I wanted to establish a scholarship
fund but was concerned
about my immediate income
needs. The Advancement staff
provided information so I could
work with my advisors to come
up with a plan that meets my
needs,” says Bernice Stacy, ’40
(College of Education), of Brent,
Alabama.
Looking Ahead
Pausing now and taking the
time to look ahead can help
prevent confusion concerning
your intentions as well as any
unnecessary delay in implementing
them.
Please let us know if we can
help you and your advisors
as you consider the charitable
dimensions of your plans. For
more information about specific
gift plans, visit our website at
www.ua.aboutgiving.net.
Multiple Ways to Give
To create a bequest through your will to The University of
Alabama, simply inform your attorney of your wishes when
reviewing your plans. Modest changes often do not require a
new document and can be included through an amendment
(known as a “codicil”) to your existing will.
If you plan to also use a living trust or other plan to help
distribute your property, remember that charitable provisions
may be made through them as well. For more information or
if we can be of help in any way, please let us know.
Next Story >
The purpose of this publication is to provide general gift, estate, and financial planning information. It is not intended as legal, accounting, or ot professional advice. For assistance in planning charitable gifts with tax and ot financial implications, the services of appropriate advisors should be obtained. Consult with an attorney for advice if your plans require revision of a will or ot legal document. Tax deductions vary based on applicable federal discount rates, which can change on a monthly basis. Some opportunities may not be available in all states.
