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Wayne and Ellen Bailey Invest to Keep Emory Strong for New Generations

Wayne and Ellen Bailey

Wayne and Ellen Bailey provide lasting support to Emory University students.

Ellen Agnor Bailey 63C 87MBA has a deep Emory lineage-12 degrees in her immediate family-and a devotion that has kept her link to the university strong. She is an emerita trustee, and her husband, Wayne Bailey, has forged his own Emory bonds as a docent for the Michael C. Carlos Museum.

Dedicated annual supporters, the couple has created a charitable remainder trust and made bequests to support leadership scholarships at Goizueta Business School, acquisitions at the museum, and a fund for the university honoring their parents.

"Emory needs to be alive for our grandchildren and our great-grandchildren, but it will be only if people like us invest our time and our resources," she says.

Charitable remainder trusts are flexible, tax-wise vehicles that can provide donors with income and create a generous remainder gift to fund programs at Emory that are important to them. Drafted by an attorney, these trusts offer a great deal of flexibility. Donors may choose the payout rate (typically between 5 and 7 percent), income may be fixed or variable, a variety of asset types can be used to fund the trust, and there is no limit to the number of income beneficiaries. A charitable remainder trust also provides a charitable tax deduction in the year the trust is established. At the end of the trust's term, remaining funds will support the donor's Emory legacy.

With bequests, donors name Emory as a beneficiary in their wills. Bequests allow donors to continue to control their assets during their lifetimes so they can be sure their current needs are met. Bequest donors can modify their gifts if their circumstances change. A well-designed estate plan can result in lower estate and income taxes, allowing donors to leave more for loved ones.

Charitable remainder trusts and bequests are just two of the many types of planned giving strategies Emory offers. To learn more, contact Emory Office of Gift Planning at 404.727.8875 or email us at giftplanning@emory.edu.

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A charitable bequest is one or two sentences in your will or living trust that leave to Emory University 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, [name], of [city, state, ZIP], give, devise and bequeath to Emory University [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 Emory 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 Emory 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 Emory 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 Emory where you agree to make a gift to Emory 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.

Personal Estate Planning Kit Request Form

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