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Gifts of Retirement Assets

If you are like most people, you probably will not use all of your retirement assets during your lifetime. Did you know that 60%-70% of your retirement assets may be taxed if you leave them to your heirs at your death? Another option is to leave to your heirs those assets that receive a step up in basis, such as real estate and stock, and give the retirement assets to Lamar University Foundation. As a charity, we are not taxed upon receiving an IRA or other retirement plan assets. You can support Lamar University with a beneficiary designation of part or all of your unused retirement assets, such as your IRA, 401(k), 403(b), pension or other tax-deferred plan.

The Lamar University Foundation serves as the preferred channel for private gifts to all areas of Lamar University to support its educational mission.

Gift of Retirement Assets
Retirement Assets
Lamar
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To leave your retirement assets to the Lamar University Foundation, you will need to complete a beneficiary designation form provided by your retirement plan custodian. If you designate Lamar University Foundation as beneficiary, we will benefit from the full value of your gift because your IRA assets will not be taxed at your death. Your estate will benefit from an estate tax charitable deduction for the gift.

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You may wish to contact your advisors regarding making charitable gifts from your retirement assets. Please feel free to contact us if you have any questions about gifts of retirement assets.

If you include Lamar University as a beneficiary of your retirement assets, please let us know! We want to ensure your future gift is properly designated to accomplish your objectives and we would like to express our gratitude to you now, rather than just to your heirs or executor later. When you inform us of your gift, we will respect your wishes for recognition or anonymity, and of course, keep any details of your gift that you disclose in strictest confidence. In addition, we hope you will allow us to recognize and thank you by including you as a member of the Lamar University Legacy Society. This is especially important because your membership may inspire others to make similar plans for the future.

For attorneys and advisors:
Generally, bequests and beneficiary designations should be directed to:

Lamar University Foundation, a nonprofit organization
located at P.O. Box 11500
Beaumont, TX 77710
Federal Tax ID #23-7298265

We recommend the following provision be included in wills or trusts to give flexibility to the Lamar University Foundation in the event the stated purpose of your gift to benefit Lamar University cannot be met:

If, in the judgment of the Board of Directors of Lamar University Foundation, it shall become impossible to use this bequest to accomplish the specific purposes of this bequest, Lamar University Foundation, in consultation with the President of Lamar University, may use the income and principal of this gift for such purpose or purposes as the Board determines is most closely related to the restricted purpose of my gift.

Additionally, please encourage your clients to let us know of their intention to include Lamar University in their estate plans. This expression of present plans is subject to revocation or modification at any time and is not legally binding.

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