Charitable Bequests What legacy will you leave?

A bequest is a way to have a lasting impact on the people and organizations that mean the most to you.

A bequest is one of the easiest gifts to make

In collaboration with your advisor and Carolina’s Office of Gift Planning, you can include language in your will or trust specifying a gift to be made to us as part of your estate plan. A charitable bequest may be made in several ways:

  • A dollar amount
  • A percentage of your estate
  • A specific asset
  • The residue of your estate

The benefits of making a charitable bequest

One benefit of a charitable bequest is that it enables you to further our work long after you are gone. With careful planning, you and your family can also avoid estate and/or income taxes.

Tax-wise bequest option: Retirement Accounts

A traditional retirement asset like an IRA or 401(k) makes an excellent bequest to charity. If your retirement assets were given to your family, much of the value could be depleted through estate and income taxes. Further, as a result of the new Secure Act of 2019, most beneficiaries who inherit traditional retirement accounts must take all of the distributions within 10 years, resulting in higher income taxes over a shorter period of time.

By designating the University of North Carolina at Chapel Hill Foundation, Inc. as the beneficiary of part or all of your traditional retirement accounts, the full value of your gift is transferred to us tax free at your death and your estate receives a charitable deduction.

Interested in learning more?

UNC-Chapel Hill Office of Gift Planning • P.O. Box 309 • Chapel Hill, NC 27514

Contact our office at 1-800 994-8803 or createalegacy@unc.edu. Visit us online at unclegacy.org to learn more about life income options.

All inquiries are treated with complete confidentiality. This information is not intended as tax, legal or financial advice. Gift results may vary. Consult your personal financial advisor for information specific to your situation.