Planned giving

Did you know...

You can establish a fund at the Ford School through your will or estate that honors the memory of a family member, loved one, or influential professor. Endowments live in perpetuity, because only the investment income is used for the fund's designated purpose, while expendable funds have a tremendous impact in the year they are received. With both options you can direct the income to support tuition assistance, faculty research, or another area of interest.

If you are 70½ years old or older, you can give any amount (up to a maximum of $105,000) per year from your IRA directly to a qualified charity such as the Ford School without having to pay income taxes on your withdrawal. Gifts of any value $105,000 or less are eligible for this benefit and you can feel good knowing that you are making a difference. If you are required to take minimum distributions, you can satisfy all or part of that obligation. This popular gift option is commonly called the IRA charitable rollover, but you may also see it referred to as a qualified charitable distribution, or QCD for short.

Making the Ford School the beneficiary of your remaining retirement assets is as easy as filling out a Change of Beneficiary Form. Your retirement fund (IRA, 401k, or 403b) may be the most tax-burdened asset you own. Because you were able to save those funds with taxes deferred, they will become due when you withdraw those funds or pass them on to your heirs (with the exception of your spouse and a few other qualified beneficiaries). 

Changing the beneficiary of your policy can be a powerful and simple way to support the Ford School. Life insurance is an excellent tool to protect your family - and it can also be used to make a charitable gift.

To learn more about any of these questions, please contact Kellen Epstein, at [email protected].