Additional Planned Gift Opportunities

Bequest
Benefit loved ones and USM student-athletes with a will:

A will is a statement about what matters most in your life. By making a will, you can ensure that your intentions are clearly expressed and that those administering your estate will follow them.

After providing for family, friends, and others, many alumni and friends include a meaningful gift to The USM Foundation for Southern Miss Athletics to continue their lifetime support. These gifts take several forms: specific bequests of property, bequests of a stated dollar amount, and bequests of a percentage of the estate. A gift can even be residual - taking effect only after all other provisions of your will have been satisfied. Or a gift can be contingent - taking effect only if the other provisions can't be satisfied.

Charitable bequests are an excellent way to provide for the University without parting with assets during your lifetime. You receive the benefit of an estate tax deduction for the amount of your gift, and can specify your preferences regarding the use of the gift to The USM Foundation, and within the Athletic Department.

It is very important that the bequest be correctly stated in your will. We will be happy to provide you and your legal adviser with suggested terminology to ensure that your wishes are fulfilled. It is also important to share your plans with the University, especially if you designate how The USM Foundation with

Southern Miss Athletics, as the beneficiary, is to use your bequest when it is received. The information can remain confidential and you will have the assurance that your gift and its designated use are appropriate and understood by the USM Foundation and the Athletic Director.

Also, if you share your plans, the University will have the opportunity to acknowledge your thoughtfulness and generosity.

Estate Note
Guarantee your pledge through your estate:

Some people plan on making a gift to the University through their estate but want to make an irrevocable commitment. Thus, they choose the estate note to assure their bequest.

An estate note formalizes your intent to make a gift to the University. It offers the security of knowing that your ultimate plans for Southern Miss will become reality even if, for example, if you are unable to complete your pledge commitment during your lifetime.

The estate note is a simple, written agreement with the Southern Miss Foundation that specifies the amount of your intended gift and states how it is to be used by the Athletic Department. It is not a substitute for a will. It is a supplement to your will and the estate note should be referenced in your will for clarity of your intentions. Because it is an irrevocable, legally binding agreement, benefactors who sign estate notes receive lifetime recognition for their gifts as they would with any irrevocable, lifetime commitments.

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. For example, if you would like to establish a faculty fellowship and plan to build the fund through gifts spread over several years, the formal expression of your intent in an estate note assures you that any outstanding portion of your commitment will be fulfilled through your estate.

It is best to record your estate note gift in your will or estate plan and to alert your executor or personal representative. We encourage you to keep your signed estate note with your other estate plan documents and to give a copy, along with your will, to your attorney.

Living Trust
A satisfying commitment today, preserving control and security for tomorrow:

A popular and versatile estate-planning tool is the living trust. This is sometimes called an "inter vivos" trust because it is created and begins functioning during your lifetime. Many people are using this trust to organize personal finances, provide for family members, and make gifts to USM.

The trust agreement is written to meet your needs and specifications. It 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. The will transfers 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.

These advantages should be weighed against the cost of administering the trust during your lifetime. A trust can enhance your estate planning and reduce estate taxes; however, a living trust is not suitable for everyone, and for some people, it may be more expensive and burdensome than a will. To determine whether a living trust is suitable for your needs, you should consult your attorney.

As with a will, the living trust is an excellent way to make a gift to The USM Foundation for Southern Miss Athletics. Your gift can be of any size and virtually any asset, and you can specify the sport that you desire for your gift. The provision for Southern Miss can easily be added to your trust agreement, and it may be a specific, contingent, residual, or remainder gift. To ensure that your wishes will be fulfilled, please contact the Eagle Club for specific suggestions regarding the wording of your gift.

Retirement Plan Designations
The need to plan today for the future is never more apparent than with retirement. Retirement is a turning point in life, your reward for a lifetime of work. It is never too early to plan because the security and comfort you deserve hinges on proper preparation.

In addition to the Social Security and Medicare systems, many individuals have supplemented their retirement income with investments in IRAs (Individual Retirement Accounts), pension and profit sharing plans, and other savings vehicles. In fact, on retirement, many people discover that the bulk of their assets are invested in these plans.

Many of these people also do not realize that, after providing for themselves and those who depend on them, these retirement investments open up many convenient and cost-effective charitable gift opportunities. With the growth in retirement and pension plan investments, many benefactors are now choosing to make a gift of their excess, or remaining retirement funds, once these funds are no longer needed.

This is a simple and convenient way to make a significant gift to Southern Miss. If you have an IRA, or participate in a Keogh or qualified pension or profit-sharing plan, you can designate the University as beneficiary of any remaining funds you do not use. During your lifetime, you retain complete access to the funds. There will be an estate tax deduction for any gifts that eventually come to USM and you will have the satisfaction of knowing you have made a meaningful and thoughtful gift. Your employer or financial institution can assist you in making the designation, using a simple form available at your request.

It is best to notify the University if you are contemplating this potential gift. We will assist you in determining how the athletic department is to use your gift and in answering any questions you may have. Your plans will remain confidential, if you desire.

Charitable Lead Trust
Maintain wealth while giving income:

The charitable lead trust is a gift of income to USM. 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 USM for the specified period of time. When the trust terminates, the assets (or principal) are returned to you or distributed to whomever you choose. Income received by Southern Miss Athletics from this trust is used for the purposes you specify.

This trust is a specialized estate-planning tool. It is especially valuable if you have substantial estate and gift tax liabilities because it allows you to achieve several goals through one gift. You are able to make a significant gift to USM, enjoy tax savings, and transfer assets to subsequent generations with reduced or eliminated estate, inheritance, and gift taxes.

A potential tax benefit is the exclusion of the trust income from your annual taxable income for the duration of the trust. Although this is not always possible with a charitable lead trust, we would be happy to discuss how you might structure a lead trust to maximize the benefits to you.

The lead trust is generally a lifetime gift; however, you can establish a testamentary lead trust that would provide similar benefits to your estate, as you would enjoy during your lifetime.

Lifetime Endowment Program
A substantial gift for a modest investment:

Many benefactors provide consistent, generous gifts to the University Foundation and would like to create an athletic endowment at Southern Miss, but for various reasons, they find the minimum endowment levels unattainable, or they hope to someday create an endowment through their estate, although they would prefer to see their endowment at work during their lifetime.

Southern Miss's Lifetime Endowment Program now gives you an option: a larger endowment than you might have thought possible, at a much lower cost. The University invests your gifts to this program until your desired endowment dollar goal is reached, then your endowment begins to work. The program is designed so that the endowment you create is likely to be activated during your lifetime.

For example, if you are 40, you could create a lifetime endowment with a five-year pledge of at least $2,000 per year. The gift would be invested by the University Foundation until it reaches a minimum of $50,000. Based on past investment performance and actuarial tables, the endowment should reach the goal during your lifetime. The endowment would bear your name and can be designated to a specific sport. For details on USM's Lifetime Endowment Program, please contact the Eagle Club.

Life Insurance
Convenience and flexibility in giving:

Life insurance is another convenient way to make a future gift to USM 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 USM. You would receive an immediate income tax charitable deduction for the current value of such a policy. Southern Miss must be the owner of any policy if you wish to receive an income tax charitable deduction. If you give USM a policy that is not fully paid-up, you receive a charitable deduction for your annual premium payments.

Although there are no lifetime tax benefits in doing so, you also may designate USM as beneficiary of insurance you own, or have through your employment. Most designations can be completed simply and conveniently with the help of your agent or employee benefits coordinator. If you have excess group term insurance, you may want to name The USM Foundation with Southern Miss Athletics as the beneficiary of the unneeded amounts. You can also designate The USM Foundation with Southern Miss Athletics as a contingent beneficiary of an existing policy.

You may designate the purpose of your gift, and when The USM Foundation with Southern Miss Athletics as beneficiary receives the policy proceeds, they will be used as you specified. Please share your plans with the University. We can assist you in determining how you wish the University to use the proceeds. Your insurance gift can be held in confidence, if you desire.