Legacy or Planned Giving
Legacy Giving to UBarU
Planning for and leaving a legacy gift or gifts provides for the future of UBarU. Your planned giving can support UBarU’s mission, infrastructure, participants and more.
What Is Legacy Giving?
A wide range of giving opportunities fit under the Legacy Giving umbrella, including charitable bequests, life income gift arrangements such as charitable remainder trusts and gift annuities, and gifts that use retirement and insurance plan benefits.
In return for a legacy (or planned) gift, donors and their families may receive important estate and income tax benefits.
Most planned gifts are deferred, meaning UBarU will enjoy the financial benefits after the donor dies.
Most of this information may be used to make a gift through a family trust, a life insurance policy, or an individual retirement account.
Suggested Bequest Language
Please share the following suggested bequest language with your attorney to assist in drafting a will or codicil that will achieve your charitable estate plans. UBarU Camp & Retreat Center is located in Mountain Home, TX and of the foundation- Unitarian Universalist Friends Retreat Foundation.
General Bequest
“I give all my real and personal property to the Unitarian Universalist Friends Retreat Foundation, a Texas charitable foundation located at 277 U-Bar-U Dr. Mountain Home, TX 78058, for its unrestricted use.”
Specific Bequest
“I give _____ [$ amount, description of property, or % of estate] to the the Unitarian Universalist Friends Retreat Foundation, a Texas charitable foundation located at 277 U-Bar-U Dr. Mountain Home, TX 78058 for its unrestricted use.”
Residuary Bequest
“I give all [or _____ %] of my remaining assets of any kind to the Unitarian Universalist Friends Retreat Foundation, a Texas charitable foundation located at 277 U-Bar-U Dr. Mountain Home, TX 78058 for its unrestricted use.”
Restricted Bequest to the Permanent Endowment
“I give _____ [$ amount, description of property, or % of estate] to the Endowment Fund of the Unitarian Universalist Friends Retreat Foundation, a Texas charitable foundation located at 277 U-Bar-U Dr. Mountain Home, TX 78058, to be invested according to the policies adopted by its Board of Trustees, income only to be used for the general purposes of the organization [or for a specific purpose].”
Restricted Bequest for Specific Purpose
“I give _____ [$ amount, description of property, or % of estate] to the Unitarian Universalist Friends Retreat Foundation, a Texas charitable foundation located at 277 U-Bar-U Dr. Mountain Home, TX 78058, restricted to _____ [describe or name of program]. If at any time in the judgment of the Board of Trustees it is deemed impossible or impracticable to carry out the above purpose, the Trustees shall determine a purpose as near as possible to that described above.”
General / Specific Bequests
Like other sorts of gifts, bequests can be given for general or specific purposes and uses.
A Bequest for General Purposes
This type of bequest is especially appreciated because it can be put to use where there is greatest need. A bequest made without restrictions usually is added to the permanent unrestricted endowment, providing general support that may last forever.
A Bequest for Specific Purposes
Many people want to give to something special, a type of gift sometimes called a “restricted bequest.” Restrictions are often designed in consultation with the UBarU Board of Directors who can help you craft language that will ensure your gift will do what you want it to do. Here’s a list of programs and projects to consider and you shape your charitable bequest:
Restricted / Unrestricted Bequests
Both restricted and unrestricted bequests are made in the following ways:
Specific Bequest
Give a specific asset or collection of assets in the form of cash, securities, or other property. Retirement plan benefits, IRAs, savings bonds, and other items known as “income with respect to a decedent” (IRD) are particularly tax effective gifts to charity. You may designate an amount or a percentage of the property.
Residuary Bequest
Give all or a percentage of what remains of your estate after all specific bequests have been satisfied and debts and expenses have been paid. You may specify that charitable gifts be fulfilled first with IRD assets to the extent needed to reduce your tentative estate tax.
Contingent Bequest
Give all or a portion of your estate in the event that a named beneficiary is not alive when you die. This type of bequest can avoid costly litigation or prevent property from reverting to the state for lack of heirs.
Testamentary Charitable Remainder Trust
A trust document is created during your lifetime, with a “pour-over” will to designate which assets are to be placed in a trust with the income paid to one or more beneficiaries for their lifetimes. Upon the death of the last income recipient, or after a term of a specified number of years, the trust terminates and assets are transferred to the Unitarian Universalist Friends Retreat Foundation completing your gift.
Your gifts are greatly appreciated!
For more information, contact our Treasurer, Patricia Baillif, at Treasurer@UBarU.org or call her directly at (214) 660-8385.
