Charitable Bequest

A charitable bequest is one of the easiest and most flexible ways that you can leave a gift to University of Texas Medical Branch that will make a lasting impact.

Benefits of a bequest

• Ensure that your assets are used for the purpose you desire
• Receive an estate tax charitable deduction
• Reduce the burden of taxes on your family
• Leave a lasting legacy to charity

How a bequest works

A bequest is one of the easiest gifts to make. You can include language in your will or trust specifying a gift to be made to family, friends or University of Texas Medical Branch as part of your estate plan, or you can make a bequest using a beneficiary designation form.

Here are some of the ways to leave a bequest to University of Texas Medical Branch

• Include a bequest to University of Texas Medical Branch in your will or revocable trust
  • You can take advantage of a completely free resource that we offer to supporters of University of Texas Medical Branch. DRAFT YOUR WILL COMPLETELY FREE OF CHARGE.Contact us to receive the link. Once drafted, you can follow the directions regarding signatures and witnesses to complete the will, or share the draft with your attorney to save time and money when working with your legal advisor to complete your will.
• Designate University of Texas Medical Branch as a full, partial or contingent beneficiary of your retirement account (IRA, 401(k), 403(b) or pension)
• Name University of Texas Medical Branch as a beneficiary of your life insurance policy

A bequest may be made in several ways

• Percentage bequest - make a gift of a percentage of your estate
• Specific bequest - make a gift of a specific dollar amount or a specific asset
• Residual bequest - make a gift from the balance or residue of your estate

Sample bequest language

Contact us

If you have any questions about leaving a bequest to us, please contact us. We would be happy to assist you. If you have been so generous as to include a gift for University of Texas Medical Branch as part of your estate plan, please take the time to let us know. We would like to recognize you and your family for your generosity, and ensure that your gift will be used according to your wishes.

Additional Information

The method used to make a bequest will depend on the kind of gift you choose to leave to University of Texas Medical Branch.

Bequests of real estate, personal property, business interests and cash are typically made by way of a will, revocable trust or even a simple codicil to your current estate plan. Your estate-planning attorney can assist you in preparing the necessary papers for you to complete the bequest.

Other bequests, such as those involving retirement assets, insurance policies, bank accounts and stocks and bonds, are typically made by completing the appropriate beneficiary designation form. Simply contact your retirement plan administrator, life insurance company, bank or investment broker and ask them to send you the appropriate "beneficiary designation" or "payable on death" form. To complete this type of bequest, you will need to complete and sign the form and then send it back to the person who originally sent the form to you.

The last step in leaving any bequest involves the transfer to charity. When you pass away, the bequest property will be transferred to University of Texas Medical Branch. The full value of this gift will be transferred tax-free and your estate will receive an estate tax charitable deduction.

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