Gifts That Cost You Nothing Now
Gifts in a will or by beneficiary designation are two easy ways to benefits students, graduates, and their employers 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 the University of Missouri-Kansas City. Once you have provided for your loved ones, we hope you will consider making our mission part of your life story through a legacy gift.
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A gift in your will is one of the easiest ways to create your legacy and offers the following benefits:
LASTING IMPACT
Your gift will create your legacy that will make a real and lasting difference.
FLEXIBLE
You can alter your gift or change your mind at any time and for any reason.
NO COST
Costs you nothing now to give in this way.
Four simple, “no-cost-now” ways to give in your will
General gift
A general bequest is a gift of a specific amount.
Residuary gift
Specific gift
A specific gift is a gift of a particular piece of property. For example, real estate, funds in a bank account, or shares of a corporation.
Contingent gift
You can mix these no-cost ways together. For example, you might consider leaving a specific percentage (such as 50%) of the residual to UMKC 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 supporting UMKC — and it costs you nothing now.
By naming UMKC as a beneficiary of these assets, you can power our mission for years to come and establish your personal legacy of empowering our students to become the people they are meant to be.
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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 UMKC
Types of Gifts
Retirement plan assets
You can simply name UMKC as a beneficiary of your retirement plan to contribute to the future success of the university.
Life insurance policies
You can name UMKC as a beneficiary of all or a portion of your life insurance policy. With this gift arrangement, UMKC will receive the proceeds of your policy after your lifetime. You can change your beneficiary at any time and may reduce your estate taxes.
Bank or brokerage accounts
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 the University of Missouri-Kansas City Foundation (Tax ID: 26-0840496) 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 transforming the lives of UMKC students for generations to come.
Funds remaining in your donor-advised fund
What remains in a donor-advised fund is governed by the contract you completed when you created your fund. When you name the UMKC Foundation as a “successor” of your account or a portion of your account value, you enable students to achieve their goals.
How to update a beneficiary designation:
Simply contact your bank, retirement plan administrator, insurance company, or other financial institution to request a beneficiary designation form. You may also be able to log in to your account and update your beneficiaries online.
Please use our legal name: University of Missouri-Kansas City Foundation
Include our tax identification number: 26-0840496
Please let us know so we can ensure that your wishes are carried out.
Our Team is Here to Help
Our experienced team is here to help you…
- Learn about special projects that align with your interests.
- Structure a donation that maximizes benefits for you and your loved ones.
- Stay up to date on how your gift is used.
- And more!
Amanda Davis
Chief Advancement Officer of UMKC
President of the UMKC Foundation
