Legacy Giving

Including UMS in your estate plans will help ensure that the extraordinary impact of the performing arts will continue in Southeast Michigan for generations to come.

UMS has established the Burton Tower Society to recognize individuals who have made provisions for future support through bequests, charitable remainder trusts, or other planned gifts. Planned gifts to UMS are also recognized in the U-M Monteith Legacy Society.

Darragh and Bob’s love story began while attending UMS concerts as students at Michigan more than 60 years ago. A gift in Darragh’s memory now honors their relationship forever.

Explore ways to make a planned gift below. Your lawyer or tax advisor can assist you with the option most appropriate for your circumstances and wishes.

Designate UMS as a beneficiary

Bequests

A bequest is one of the easiest ways you can leave a lasting impact on the organization. Through your will or trust, you can designate a fixed amount, or have a percentage of your assets transferred to UMS.

A retirement asset, such as an IRA, makes an excellent asset to bequeath. If the IRA were given to your family, much of the value might be lost through income taxes. By designating UMS as the beneficiary of all or part of your IRA (using a beneficiary designation form provided by your custodian), the full value of the gift is transferred tax-free upon your death. You may receive an estate tax charitable deduction and lessen the tax burden on your heirs. Documenting your bequest allows UMS to recognize your generosity, and it inspires other alumni and friends to follow in your footsteps. Documenting your intentions will also help ensure your wishes are met.

If you wish to designate your gift toward a specific purpose or establish an endowment, we will review and/or provide specific language. If you have not yet designated a purpose, simply complete a letter of intent, gift agreement, or declaration of intent form to document your wishes. Any documentation will be kept in strict confidence.

Make a gift that will provide income

Charitable Remainder Trust

You may be concerned about the high capital gains tax upon the sale of your appreciated property. Or perhaps you recently sold property and are looking for a way to save on taxes this year and plan for retirement. Or you may be tired of riding the fluctuating stock market. A charitable remainder unitrust might offer the solutions you need.

A charitable remainder unitrust can provide you with income for a term of years or for one or two lives. The income reflects trust investments, and there is potential that the income could increase over time with growth in the trust. You avoid capital gains on the sale of your appreciated assets, and receive a tax deduction for the remaining portion of the trust that is given to UMS after the term period has expired or upon your death.

There are several unitrust payout options to meet your needs. The standard unitrust pays out a percentage of the trust assets each year. A charitable remainder annuity trust pays out a fixed amount each year based on the value of the property at the time it is gifted. Another payout option, commonly used for real estate, permits the trust to sell the property tax free and then begin paying you income after the property has been sold.

UMS also has access to exceptional resources at the University of Michigan and we would be happy to set up a meeting with a University Gift Planner to help you determine the best way for you to make a gift to UMS through your estate.

You can find additional information at plannedgiving.umich.edu. This U-M maintained website includes details about how to give, sample language, information for advisors and additional estate planning help.