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Planned Giving

Making a Difference for Students with Disabilities

Evelyn Petshek

UWM has received a very generous gift from the estate of Evelyn Petshek for scholarships for disabled students. Evelyn Petshek (1917-2010) was born in England and met her husband, Kirk R. Petshek (1913-1973), in London just after World War II. The Petsheks married, immigrated to the United States, and moved to Milwaukee in 1962, when Kirk accepted a position as Professor of Urban Affairs and Business Administration at UWM. In the late 1960s, Kirk Petshek began to lose his mobility. After struggling to maintain his professional career for nearly a decade with multiple sclerosis, he passed away in 1973.

Evelyn never forgot the fact that UWM Business School Dean C. Edward Weber supported her husband with great kindness and encouragement during this difficult period of their lives. In 1973, while employed as UWM's first Director of Development, Evelyn endowed the Kirk R. Petshek Memorial Fund at the UWM Foundation. The Fund memorialized her husband by providing scholarship support to Business School students with disabilities. She also established a trust, with regular payments of trust income coming to her during her lifetime. She designated the Petshek Memorial Fund as the beneficiary of the remaining trust assets after her death.

Because of Evelyn's foresight, the Kirk R. Petshek Memorial Fund will provide even more scholarship support for disabled students studying business. UWM remains grateful for the talent, dedication, and generosity of such outstanding members of our campus community.

 

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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 gift 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 receive an immediate federal income tax charitable deduction. 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 receive an immediate federal income tax charitable deduction. 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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