Let Us Help You
We know that the decision to plan a bequest can be a very personal one. Let our staff help you in making this very generous decision. We are happy to help you explore your options for designating a bequest to the University of West Alabama that will best meet your needs and goals. Those considering a planned gift should contact their own legal and tax advisors. The staff welcomes the opportunity to speak and work with your advisors.
What is a Bequest?
A bequest is a gift that comes from your estate and is designated through your will or trust. The gift can be a transfer of cash, securities, or other kinds of property. You can make a bequest to the University by simply including language in your will or trust leaving a portion or percentage of your estate to the University, or by naming the University of West Alabama as a beneficiary of your retirement account or life insurance policy.
Remembering UWA with a bequest from your estate will help sustain and strengthen the University in years to come. There are several benefits of creating a bequest to the University:
- A bequest costs nothing now, yet gives you the satisfaction of knowing you have provided for future generations of students at UWA.
- You retain complete control and use of your assets during your lifetime.
- You may modify your bequest if your circumstances change.
- Gifts to UWA from your estate are exempt from federal estate taxes.
- If you inform UWA of your plans, you will be honored as a member of the Livingston Legacy Society.
Restricted vs. Unrestricted Gifts
An unrestricted bequest allows the University to determine how to use the funds based on a careful assessment of its most urgent needs. A restricted bequest directs your gift to a specific fund, college, or purpose or need that you are most passionate about. Because restricted gifts are unique, UWA encourages donors considering this type of gift to speak with a member of the Office of Institutional Advancement about the appropriate language.
An endowed fund provides income every year in perpetuity to carry out the designated purpose of the fund. Please note that endowed funds do have minimum required amounts. Contact us if you are considering this type of bequest gift so that we may further assist you.
Let Us Thank You
If you have included the University of West Alabama in your estate plans, please let someone in our Office of Institutional Advancement know. We would like to thank you for your generosity and faithfulness. We would also like to ensure that the purpose of your gift is clearly understood by the University, and we would like to welcome you as a member of the Livingston Legacy Society.
Livingston Legacy Society
The Livingston Legacy Society honors individuals who pledge to support the University through estate gifts, life-income gifts or the transfer of assets. Members enjoy special recognition events and communications from the University.