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Planned Giving

Gift Honors a Devoted Teacher and Sister

Chester Raasch

Chester A. Raasch

Mildred Raasch

Mildred H. Raasch ’45

Mildred H. Raasch ’45 devoted her entire life to teaching. Now, through a generous estate gift from Mildred’s younger brother, Chester A. Raasch, many future teachers and educational leaders at the UWM School of Education will be supported with undergraduate scholarships and graduate fellowships named in her memory.

Mildred was 10 years old when her youngest sibling, Chester, was born. Mildred, no doubt, served as one of Chester’s first teachers! Mildred’s teaching career began when she was 18 years old, in the 1893 red brick, one-room Denoon School near Muskego. She earned her bachelor’s degree in education from the Milwaukee State Teacher’s College in 1945 and a master’s degree in education at UCLA. When she retired, she was a principal in the Milwaukee Public Schools. Mildred died in Milwaukee at age 97 after making a positive impact on the lives of many students.

Chester served in the U.S. Army during World War II, receiving the Bronze Star for Meritorious Service. He spent his career working at the New York Central Railroad and the Milwaukee Road, eventually rising to the position of chief clerk.

When he passed away in the fall of 2013 at age 93, Chester was the last living member of his immediate family. He wanted to use his estate plan to preserve and honor the memory of his sister and her accomplishments. His trust provided for 50 percent of the assets to permanently endow the Chester A. Raasch and Mildred H. Raasch ’45 Scholarship Fund.

School of Education Interim Dean Barbara Daley describes the tremendous value of this gift in attracting and retaining high-achieving students eager to become educational leaders. “The unrestricted nature of this scholarship fund permits us to offer support to those most likely to succeed in meeting the urgent challenges of our educational system. We are immensely grateful to Chester for generously remembering his sister’s alma mater and the role this institution played in her life’s work,” Barbara says. “Through his gift, we have a wonderful opportunity to keep alive the memory of a highly talented teacher who came before us, and a brother’s devotion to his older sister.”

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A charitable bequest is one or two sentences in your will or living trust that leave to the UWM Foundation a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

Bequest Language

"I give ($___)(___% of my estate) to the UWM Foundation, Inc., a not-for-profit corporation with its principal office in Milwaukee, Wisconsin, for the benefit of the University of Wisconsin - Milwaukee, (as an unrestricted gift) (to be used in support of....)." 

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to the UWM Foundation or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to the UWM Foundation as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to the UWM Foundation as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and the UWM Foundation where you agree to make a gift to the UWM Foundation and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

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