Wills, Bequests & Beneficiaries
Bequests, or naming UWSP Athletics as a beneficiary in your will or trust document, is an opportunity to provide for others beyond the limits of your lifetime. A bequest is a means of making a much larger gift than possible while you are still drawing an income from your investments.
Bequests are exempt from federal or state estate taxes. A properly planned bequest can result in a larger estate passing on to your heirs.
You can make a specific bequests of property or allocate a percent or dollar amount from your estate in your will. Another method would be to allocate "the residue" of your estate, or what is remaining after all other bequests or terms of your will have been met.
You can make a bequest to a specific sport or sports or to Athletics itself by inserting certain language in your will or trust document or by designating Athletics as a beneficiary through other assets and investment vehicles.
Three steps may help you learn more about providing for a number of beneficiaries in your will or trust or help you with the process of designating UWSP’s Athletic Department as a beneficiary through life insurance, savings and investment accounts, or other assets.
First, choose and consult a trusted professional advisor; such as an estate planning attorney, a trust officer, an accountant, a financial planner, an investment advisor, or a money manager. Please note that state laws pertaining to wills and bequests vary widely.
Second, ask your advisor to discuss charitable legacies and charitable giving with you.
Third, let us know that you have included us in your estate planning.
Contact us for more information.