There are many ways you can maximize your support for Texas State while ensuring that personal and family needs are met. Create your lasting legacy and give life to your passion.
A Gift By Will (Bequest)
Make a lasting difference to Texas State through a bequest in your will or trust. Your legacy gift can be directed to a specific purpose and can be named after you or a loved one. Indicate a specific amount or a percentage of the balance remaining in your estate. Your assets remain in your control and you can modify your bequest if your situation changes.
Gifts of Tax-Deferred Retirement Plans (i.e. IRA, 401K, 403B, 457) can make Texas State a beneficiary for all or a portion of your tax-deferred retirement plans. This tax-wise strategy for charitable gifts through your estate minimizes taxes to your heirs. Distributions from retirement plans can be subject to income and estate taxes when left to heirs, regardless of estate tax exemptions. In contrast, Texas State receives the full value tax-free to support whichever area of the university you choose.
Gifts of Life Insurance
You can name Texas State as beneficiary of a life insurance policy that may no longer be needed to protect your family. Transferring ownership of a permanent insurance policy to the university entitles you to an income tax deduction for the policy’s cost basis or cash surrender value, whichever is less.
Retained Life Estate
You can give Texas State your home, vacation home, or farm, while retaining full legal rights to enjoy its use for the remainder of your life, or a term of years. You receive an immediate income tax deduction for the remainder interest value of the property, and it passes to Texas State when your life estate ends.