Orr/Millin Family descendants and UVI officials at 65 acres land donation presentation on October 7, 2014
The donation comes from descendants of Rankin Orr and Elizabeth Millin. Family members expected to be on hand for the reception and tour are Leal Van Beverhoudt, Luz Van Beverhoudt, Aethra Van Beverhoudt-Matthias and Anita Millin Holder. A reception is set at UVI’s Administration and Conference Center at 10 a.m., with a property tour to follow leaving UVI at noon.
A growing number of alumni and friends incorporate philanthropic giving into their financial and estate planning. Make a significant gift to UVI's future through your estate from a simple bequests, trusts or
A charitable bequest is the most common form of providing an ultimate gift to the University to perpetuate your life interest and influence into the future. A bequest is a provision in one's last will and testament where a gift or property is transferred from an estate to UVI. A bequest can also be made by simply adding a codicil to an existing will. It is one of the simplest, cleanest, easiest forms of planned giving.
The estate note is a simple, written agreement with UVI that specifies the amount of your intended gift and states how it is to be used by the University. An estate note is especially useful if you desire to make a
gift commitment over a period of years toward an endowment, a building project, or another specific program.
The living trust is sometimes called an inter vivo trust because it is created and begins functioning during your lifetime. You can use this trust to organize personal finances, provide for family members, your
own disability, and make gifts to UVI. The trust agreement, written to meet your needs and specifications, keeps you in control of your assets during your lifetime and also specifies how your property should
be distributed after your death. A living trust can be revocable or irrevocable. Even if you have a living trust, it is still advisable to have a will. A will transfers through Probate Court into the trust any assets
or property that are either deliberately or inadvertently omitted. A living trust can avoid probate delays and reduce the expenses of estate administration.
Charitable Lead Trust
The charitable lead trust is a gift of income to UVI. You select the assets to place in trust, and the length of time that your trust will last. Income from the trust is paid to UVI for the specified period of time. When the trust terminates, the assets (or principal) are returned to you or distributed to whom you choose. Income received by UVI from this trust is used for the purposes you specify.
Charitable Remainder Trusts
Charitable remainder unitrust is a life-income plans that irrevocably transfer assets to a trust. The unitrust pays the donor an annual income for life. The income is based on a fixed percentage, which is determined by the fair market value of the trust assets as re-valued annually. Upon death the trust assets are transferred to UVI.
Life insurance is another convenient way to make a future gift to UVI with a minimum investment. Some benefactors make a gift of new, paid-up policies or existing ones that are no longer needed. A gift of
existing life insurance that you own may be completed by assigning ownership and delivering the policy to UVI. You would receive an immediate income tax charitable deduction for the current value of
such a policy. UVI must be the owner of any policy if you wish to receive an income tax charitable deduction. If you give UVI a policy that is not fully paid-up, you receive a charitable deduction for your
annual premium payments.
There are a variety of charitable giving options that can benefit you, your heirs, save on capital gains and income taxes, and benefit UVI at the same time. UVI can work with your financial advisor to identify
funding opportunities at the University.
For more information contact the University Development Office at (340) 693-1040.