Gifts That Cost You Nothing Now
Gifts in a will or by beneficiary designation are two easy ways to give future Utica University students enriching experiences and outstanding educational pathways for years to come — and they don’t cost anything now.
Gifts in a Will
Making a legacy gift in your will or trust is one of the easiest and most popular ways to make a lasting impact for Utica University. By simply signing your name, you can create a legacy of giving students an engaging, personalized learning experience.
Once you have provided for your loved ones, we hope you will consider making Utica University values and experiential learning part of your life story through a legacy gift.
A gift in your will is one of the easiest ways to create your legacy and offers the following benefits:
Costs you nothing now to give in this way.
You can alter your gift or change your mind at any time and for any reason.
Your gift will create your legacy of inspiring students to reach their fullest potential.
Four simple, “no-cost-now” ways to give in your will
Leaves a gift of a stated sum of money to Utica University in your will or living trust.
Leaves what is left over after all other debts, taxes, and other expenses have been paid.
Leaves a specific dollar amount, percentage, fraction, or specific items (collections, art, books, jewelry, etc.).
Leaves a stated amount or share only if a spouse, family member or other heir/beneficiary does not live longer than you. In other words, your gift is contingent upon whether or not they survive after you.
You can mix these no-cost ways together. For example, you might consider leaving a specific percentage (such as 50%) of the residual to Utica University contingent upon the survival of your spouse.
Gifts by Beneficiary Designation
It’s easy to put your bank accounts, retirement funds, savings bonds, and more to use in preparing Utica University learners to achieve their personal and career goals — and it costs you nothing now.
By naming Utica University as a beneficiary of these assets, you can power our mission for years to come and establish your personal legacy of expanding Utica University’s international reach.
Potential benefits of gifts by beneficiary designation:
Reduce or eliminate taxes
Reduce or avoid probate fees
No cost to you now to give
Create your legacy with Utica University
To name Utica University as a beneficiary of an asset, contact the custodian of that asset to see whether a change of beneficiary form must be completed.
How to change a beneficiary designation:
Login to your account or request a Change of Beneficiary Form from your custodian (the business holding your money or assets).
Follow the links to change your beneficiary or fill out the form.
Be sure to spell the name of our organization properly: Utica University
Include our tax identification number: 16-1476258
Save or submit your information online or return your Change of Beneficiary Form.
Types of Gifts
A Gift of Retirement Funds
You can simply name Utica University as a beneficiary of your retirement plan to drive student success.
A Gift of Funds Remaining in Your Bank Accounts, Brokerage Accounts or Certificate of Deposit (CD)
This is one of the easiest gifts to give and one of the most useful in accomplishing your philanthropic goals. The next time you visit your bank, you can name Utica University (Tax ID: 16-1476258) as the beneficiary of a checking or savings bank account, a certificate of deposit (CD), or a brokerage account. When you do, you’ll take a powerful step toward helping students achieve success for generations to come.
Donor-Advised Fund (DAF) Residuals
What remains in a donor-advised fund is governed by the contract you completed when you created your fund. When you name Utica University as a “successor” of your account or a portion of your account value, you enable life-changing learning opportunities.
If you have bonds that have stopped earning interest and you plan to redeem them, you might owe income tax on the appreciation. That could result in your heirs receiving only a fraction of the value of the bonds in which you invested. Since Utica University is a tax-exempt institution, naming us as a beneficiary means that 100 percent of your gift will go toward creating a more diverse and equitable climate at Utica University.
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