David and Ann established a scholarship to help qualifying students meet some of their college expenses.They made an outright gift of some appreciated stock and changed their will to include a bequest to the scholarship.

Ann: "We felt good about helping through establishing a small scholarship. But we had no idea what the scholarship would bring to us."

David: "Over the years, we have received letters from some of the recipients of the scholarship. I can't describe how good it feels to read about these young people, to see them describe their dreams and ambitions. We have become a part of their future and they have become a part of our family."

Ann: "I feel like we really have accomplished something good!"

Setting the emotional rewards aside, David and Ann made a wise financial move. First, they realized immediate tax benefits on the initial gift, based not on the purchase price of the stock, but on its appreciated value. Second, their estate will benefit by having a write-off to charity through the bequest (see bequest information). If you have already included Millikin University in your estate plans, please let us know by calling us or filling out our estate intention form.

Using funds from a retirement account to make bequests is another good strategy. If there is a balance in your retirement account at your death, not only is there a potential income tax burden, but there may be estate taxes as well. Taxes could eat up as much as 70-75% of retirement assets under certain circumstances.

Another option to consider in making an estate gift is to use life insurance policies that are no longer needed or necessary. There are different ways to make a gift of life insurance.

Ann and David found their experience enriched their hearts and lives. Often donors are surprised by just how wonderful the giving experience is.