Planned Giving

A well-designed planned gift can provide you and your family with meaningful financial benefits, including tax savings and enhanced gifts to pass on to your loved ones, while creating a lasting legacy at UT Southwestern Medical Center.

Gifts by Will

Bequests by friends, grateful patients, and alumni play a continuing role in UT Southwestern’s financial strength. The full value of a bequest to UT Southwestern is deductible for estate tax purposes without limitation on the amount of the deduction. Bequests provide a way to make a contribution that may not have been possible during the donor’s lifetime, and have an impact for generations to come.

Life Income Gifts

Assets may be contributed to UT Southwestern while continuing to earn income for the donor. This type of charitable donation is applicable to the asset owner, a spouse, or designated individual. These instruments, such as charitable unitrusts or annuity trusts, can be established via a bank, through the Southwestern Medical Foundation, or The University of Texas System.

Charitable Rollover Permanently Extended 

President Obama has signed legislation to permanently extend the IRA Charitable Rollover for 2015 and beyond. The bill allows individuals age 70½ or older to transfer up to $100,000 from an IRA to a qualified public charity free of federal income tax. The amount transferred can also be used to satisfy a donor’s required minimum distribution (RMD). 

A charitable rollover is a simple way to make a gift. Here are the requirements:

  • You must be an IRA owner age 70½ or older to be eligible.
  • You must notify your IRA custodian to make a direct transfer of the distribution amount from the IRA to our organization.
  • The distribution counts toward your required minimum distribution, and you pay no tax on the distribution.
  • Up to $100,000 of the amount transferred qualifies for this beneficial tax treatment.
  • Gifts cannot be made to a donor-advised fund, supporting organization, or private foundation.

Points to keep in mind when considering a charitable rollover:

  • Provisions in the bill make the rule effective for all of 2015. Donors who transferred IRA funds directly to a qualified charity this year and met the age requirements should check with an advisor to determine if their transfer qualifies as a tax-free charitable rollover.
  • Each tax situation is unique. Given the brief window of time left to make a charitable rollover in 2015, it is essential that donors consult their advisors immediately and work closely with their IRA custodians to assess each individual situation.

Consult your tax and financial advisors when considering any planned gift. Please contact our office at 214-648-2344 if you have any questions.