-= NMSU PANORAMA - Summer 2005 =- Giving Back: Planned Gifts Offer Different Ways to Give to NMSU

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› Planned Gifts Offer Different Ways to Give to NMSU

Planned Gifts Offer Different Ways to Give to NMSU

Many people think that a designation in their will is the best way to leave a gift to their college or university.

But NMSU planned giving officers Mark Hohnstreiter and Debbie Widger say there are several other techniques that alumni and friends can use to benefit NMSU that won't require changing an existing will or trust documents.

"These techniques may also help reduce your current income taxes and taxable estate," Hohnstreiter says.

He offers the following advice:

. A charitable gift annuity can provide you and/or your spouse with lifetime income and tax benefits for a minimum investment of $10,000. You will receive a fixed return for life, based on your age, and your gift involves only a two-page contract with the NMSU Foundation.

. Consider changing the beneficiary designation of life insurance, savings, brokerage or other financial account. You may designate a sum or a percentage of these monies to the NMSU Foundation. (Because such designations are revocable, however, there is generally no immediate charitable tax deduction.)

. Transfer ownership of a life insurance policy to the NMSU Foundation. You may be able to deduct its cash value, if any, and future premium payments you make as a charitable deduction.

. A retirement account such as an IRA or 401K may be an especially desirable asset to consider leaving to charity, since heirs other than a spouse are exposed to income taxes and possibly estate taxes on these funds.

. Explore a retained life estate agreement with the NMSU Foundation. By transferring ownership of your personal residence, vacation property or farm to the Foundation during your lifetime, you would enjoy a significant charitable tax deduction and maintain the right to reside in the property during your lifetime. (Generally, a life estate agreement requires that the donor continue to pay taxes, insurance and upkeep for the property.)

Any of these gifts make donors eligible for recognition in the 1888 Society.

For more information on how to make planned gifts such as these to NMSU, call Hohnstreiter at (505) 646-2002 or Widger at (505) 646-5731. Or, visit the Planned Giving Guide section of the NMSU Web site at giving.nmsu.edu. "Of course you will always want to confirm your plans with your financial or legal advisor," Hohnstreiter notes.

Martha Loustaunau (left), a college professor in the Department of Sociology and Anthropology, has established a fellowship endowment in memory of her late husband, Joaquin, who taught mathematics at NMSU for many years. Shown here with Loustaunau is biology graduate student Christine Bacon, who is the first recipient of the Joaquin Loustaunau fellowship.

Bacon, who is originally from New Hampshire, is in her second year studying plant systemics and evolutionary relationships. She speaks Spanish and Portuguese and has traveled widely, studying in Brazil, Mexico and other parts of Central and South America. Bacon hopes to eventually contribute to knowledge about preserving the ecosystem, and to awareness of the importance of integration of language and the sciences, as well as the interrelationships of all living things. She plans to pursue a Ph.D. in London, where Kew Gardens offers a tremendous variety of plants for study and research.

The Loustaunau fellowship will be given annually to graduate students in mathematics, genetics or social sciences who show a strong commitment to research with a focus on contributions to knowledge and a better understanding of the world around us.

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