Gifts that Cost You Nothing Now


Gifts that Cost You Nothing Now

With only your signature, you can create your legacy of learning with UI. It costs you nothing now to do this, yet your impact lasts for generations to come.

Once your family and loved ones are provided for, we hope you’ll consider a gift in your will or trust or by beneficiary designation to UI. These gifts cost you nothing now and you can change your gift at any time.

Please let us know if you’ve included a gift for UI in your will or trust or by beneficiary designation. Providing us with documentation is the best way to ensure that your wishes are honored.

Gifts in a Will

Leaving a gift in your will or living trust is an easy way to create your legacy with UI and ensure that our students succeed and learn to lead for years to come.

Here are some popular ways to leave a gift for UI:

  • A general gift leaves a gift to UI of a stated sum of money in your will or living trust, typically in the form of personal property or assets.
  • A residual gift in your will or living trust leaves UI the remainder of your estate after other gifts, debts and taxes have been paid.
  • A specific gift in your will or living trust leaves UI a specific dollar amount or stated fraction of your estate or specified items (collections, art, books, jewelry and so on).
  • A contingent gift in your will or living trust leaves UI a stated share of your estate only if a spouse, family member or other beneficiary does not survive you.

View Sample Gift Language

If you have any questions or want more information about different legacy gift options, please contact Sharon L. Morgan, Senior Director of Estate, Trust and Gift Planning, at 866-671-7041 or giftplanning@uidaho.edu.

As with all gift planning, you should consult with your tax advisor and lawyer to determine what planned gift strategy is best for your current tax situation and income requirements. Consulting estate-planning professionals will help ensure that your wishes to make a lasting impact will be fulfilled.

Gifts by Beneficiary Designation

You can further our land-grant mission for years to come when you name UI as a beneficiary of your retirement account, life insurance plan, bank account or other assets. This is one of the easiest gifts to give. It costs you nothing now, doesn’t require an estate plan or a lawyer and you can change your beneficiaries at any time.

Reasons to Update Your Beneficiary Designations:

  1. You have been remarried, widowed or divorced
  2. Your primary beneficiary has passed away
  3. Your financial institution changed ownership
  4. You had a grandchild or great-grandchild
  5. You want to leave a legacy gift for the University of Idaho

What Kinds of Gifts Can You Give?

Here are some of the assets that transfer by beneficiary designation. Any of them will sustain UI’s mission and advance the transformative education that our students receive.

  • IRAs, 401ks and other qualified plans
  • Life insurance policies
  • Certificates of deposit
  • Bank accounts
  • Donor advised fund residuals
  • Savings bonds
  • Personal residence (in some states)

View Sample Beneficiary Designation Language

If you have any questions or want more information about different legacy gift options, please contact Sharon L. Morgan, Senior Director of Estate, Trust and Gift Planning, at 866-671-7041 or giftplanning@uidaho.edu.

As with all gift planning, you should consult with your tax advisor and lawyer to determine what planned gift strategy is best for your current tax situation and income requirements. Consulting estate-planning professionals will help ensure that your wishes to make a lasting impact will be fulfilled.