The University of Alabama

Planning for the Future

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You’ve worked hard all your life and you want to make sure that your family’s future is secure. Taking time today to prepare for tomorrow can protect your loved ones down the road. With careful planning, you can safeguard your assets so they will be passed on according to your wishes.

Having an up-to-date will is the first step you should take to protect those you love and to ensure that your assets will be distributed the way you plan. Without a will, the state can decide how to disperse your holdings.

As you look to the future, please consider including The University of Alabama as part of your charitable giving. Charitable bequests can be made through a will or living trust and are a way for you to make a significant impact without relinquishing your assets today. Including a charitable bequest in your will is simple and leaves you with the satisfaction of knowing that you are helping UA students attain their goals. A bequest is also a way of establishing your legacy at the Capstone.

Bill Oakley (class of ’62) arranged through his estate plan to give the University 1,000 acres of land that he said had been in his family for more than sixty years. The land sits adjacent to 500 acres that Bill’s sister, Margaret Oakley Nicholas (class of ’55), bequeathed UA in 2011. Their generosity has created a legacy for the Oakley family at The University of Alabama.

Advantages of charitable donations

Charitable bequests come with distinct advantages and are easy to set up. A single provision included in your will or trust is all that is needed. If you already have an estate plan in place, you can make a charitable bequest by simply adding a codicil to your current will.

A charitable bequest is revocable. You are not locked into a decision you make today if your circumstances are different tomorrow. You can change your mind and change your bequest.

Your charitable bequest may come with estate tax savings, which could leave more money for your heirs.

For more information, please contact the Office of Planned Giving at (205) 348-0999 or toll free at (888) 875-4438, without obligation.


Every Gift is Important

Bequests come in all sizes and all gifts are important to The University of Alabama. You can rest assured that each gift is appreciated and will be put to good use. Some of our students may have tuition covered but need help with purchasing textbooks. Your gift could be exactly what a deserving student needs to stay in school for another semester. While a single gift standing alone may seem small, combined with others it can make a huge difference.

 

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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.