A bequest made in your will or trust is one of the easiest ways you can leave a lasting legacy for the Martha Cook Building and future generations of women.
And, departing, leave behind us footprints on the sands of time…
Henry Wadsworth Longfellow
Benefits of Your Bequest
- Receive estate tax charitable deduction.
- Lessen the burden of taxes on your family.
- Leave a lasting legacy.
Your Bequest Options
A bequest may be made in several ways:
- Gift of a percentage of your estate
- Gift of a specific dollar amount or asset
- Gift from the balance or residue of your estate
Documenting Your Bequest
Each year, many alumni and friends reveal that they have included the University of Michigan in their estate plans. Some provide details about their intentions, in effect "documenting" their generous future gifts for Michigan.
Here are four good reasons why you should consider sharing and documenting your intentions with Michigan.
1. Your Wishes
Documenting your intentions will help ensure your wishes are met. With respect to designating a specific purpose or establishing an endowment, we will review or provide specific language.
2. Inspiring Others
Estate gifts are a crucial source of continuing support for the Building. Upon documenting your bequest, the estimated value will count toward current fundraising goals while inspiring other alumni and friends to follow in your footsteps.During U-M's last fundraising campaign, the Michigan Difference Campaign, $596 million of the $3.2 billion contributed was in the form of bequests and other planned gifts.
3. Appreciation and Recognition
Documenting your intentions will allow the University to recognize you now for your future gift. Upon documenting your bequest intention, you will automatically be enrolled as a member of the John Monteith Legacy Society. As a member of the John Monteith Legacy Society, you will be invited to special University events and will receive a U-M memento of appreciation. If you wish, you may elect to decline membership. Additionally, you may remain anonymous and exclude your name from any donor listings.
4. No Obligation
By documenting your intentions, you are in no way entering into a legally binding or irrevocable gift agreement. You retain the flexibility to change your plans should your circumstances or priorities change.
Making a Bequest of Your Retirement Assets
A retirement asset, such as an IRA account, makes an excellent bequest to the university. If the IRA were given to your family, much of the value may be lost through estate and income taxes. By designating University of Michigan as the beneficiary of all or part of your IRA, the full value of the gift is transferred tax-free at your death and your estate receives an estate tax charitable deduction.
We've included the Martha Cook Building in our estate plan because living there and making lifelong friends with classmates and others who came before and after me has made a significant impact and enriched my life. I hope you will join me in contributing so that the legacy of the MCB experience is preserved and available for future generations of women at the University.
Elaine K. Macklin Didier, BA ’70, AMLS ’71, PhD ‘82
House President, 1969-70
MCAA Board of Directors, Vice President, 1989-92
75th Anniversary Jubilee Committee, Mistress of Ceremonies, 1991
MCB Board of Governors, 1995-2001; Chair 1997-2001
Capital Campaign Committee, 2001-2005
90th Anniversary Coordinating Committee, 2003-2005
For more information about how to include the the Martha Cook Building in your will or estate plans, please contact Heidi Kirby, Associate Director of Development for Student Life at [email protected] or (734) 615-5159.