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A Family Tradition of Giving

Group photo

Tim and Marguerite with UWF staff during the presentation of their 2014 gift.

"My parents believed that higher education creates opportunities for people to improve themselves and the community," Tim Burr said in a news conference at the University of West Florida in 2014.

On that day, he and his wife, Marguerite, announced a $770,000 legacy gift to UWF, which went on to support the Hal Marcus College of Science and Engineering and UWF Athletics. The gift, from the estate of his parents, John Thayer and Joan Ames Burr, was instrumental in founding the football program at UWF.

"My parents loved this community, so there is no better way to give back to the community than by supporting the University," he said. "It is our family's hope that this gift furthers the University's stature in the education community and attracts high quality students, so that together we can achieve something for the greater good."

After giving so much to the University already, this past year Tim and Marguerite made a generous planned gift to the University from their own estate. This generosity will live on with our students and go on to impact hundreds of future Argos.

Every year, UWF alumni and friends use estate giving and planned giving for the University to strengthen their community and enhance the lives of young people. Giving to UWF allows you to make a lasting impact and take advantage of financial planning opportunities.

Honor Someone With Your Gift

Tim was able to honor his parents' wishes and continue their legacy here in Northwest Florida. Is there someone special in your life who shares your connection to UWF, such as a professor, former classmate or family member? You can honor that relationship with a gift to UWF in their name. Contact Robin Zimmern at 615-473-5204 or rzimmern@uwf.edu to get help planning your perfect gift.

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A charitable bequest is one or two sentences in your will or living trust that leave to the University of West Florida 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

"I give to the University of West Florida, a nonprofit corporation currently located at 11000 University Parkway, Pensacola, FL 32514, or its successor thereto, ______________ [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

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 UWF 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 UWF 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 UWF 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 UWF where you agree to make a gift to UWF 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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