Gifts by Credit Card
The most convenient method for making a gift via credit card is online by clicking here. Credit card gifts may also be made over the phone calling the Rosenberg College of Law Alumni Affairs Office at 859-257-6725. You will need to provide the following information.
- Exact name as it appears on the credit card and College of Law class
- Amount of gift and purpose (if applicable)
- Credit card account number
- Card expiration date
Gifts of Cash
Traditionally, the majority of gifts to the College are cash. Cash gifts are deductible for federal income tax purposes up to 50% of your adjusted gross income. Amounts exceeding that limit can be carried forward for five years. Please make checks payable to: UK Rosenberg College of Law, and mail to:
UK J. David Rosenberg College of Law
620 South Limestone
Lexington, KY 40506
Gifts of Securities
Gifts of appreciated securities, closely held stock and mutual funds can be extremely beneficial for both donors and the Rosenberg College of Law. Such gifts often allow donors to diversify their investment portfolio while also minimizing capital gains taxes. For more information on how to transfer securities to the College through the University’s Office of Development, please contact the Development office by calling 859-257-6725.
Securities Valuation
Your gift of securities will be valued for credit at the mean between the high and the low market price on the date of receipt by the University of Kentucky. Securities are often hand-delivered to the UK Office of Development due to their liquid nature and to insure that valuation occurs on the desired date.
For mutual fund shares, contact the Office of Planned Giving, at 800-875-6272 for more information.
Gifts of Other Property
You may also consider other assets for gift purposes: closely held stock, real estate (residential, commercial, or undeveloped land), life insurance, or tangible personal property (art, rare books).
Tangible personal property may be deducted at the appraised market value only if the property is for the use of the College of Law. Otherwise it is deductible at cost basis. For more information contact Gift and Estate Planning at (859) 257-7886.
Gifts by Will
An easy and common way to benefit the College is by providing for the College through your will. Charitable bequests have long been the cornerstone of significant support for the College of Law and your gift by will may be designated for a specific purpose (known as a “specific bequest”), such as scholarships, or your gift may be un-designated (known as a “general bequest”), and the Dean of the College may direct your gift to support the College’s greatest need at that given time. Lastly, you may provide for the College via a “residuary bequest” which simply stipulates that the College receive the remainder of your estate after all of the expenses, taxes and debts have been paid and all of the general and specific bequests have been satisfied. For more information, please contact Gift and Estate Planning at (859)257-7886.
Charitable Remainder Annuity Trust & Charitable Remainder Unitrust
Life Income Gifts such as Charitable Remainder Trusts and Charitable Gift Annuities allow you the opportunity to both “give and receive”. As counterintuitive as it may seem, such gifts allow a donor to provide support to the College and receive tax benefits and a lifetime of income in return for having done so. With a Charitable Remainder Annuity Trust (or CRAT) you irrevocably transfer cash, securities or property into a trust and you, and/or your designated beneficiaries, receive a fixed income for the remainder of your lives, or, for a fixed term of years. When the wills of the beneficiaries mature, or at the expiration of a fixed term CRAT, the trust terminates and the assets of the trust are transferred to the College. A Charitable Remainder Unitrust (or CRUT) differs from a CRAT in that the assets of the trust are valued annually and the life income payments to the donor, and/or the beneficiaries, fluctuates as the payments are based on the annual valuation of the trust. For more information, please contact Gift and Estate Planning at (859)257-7886.
Gift Annuity Agreement
Charitable Gift Annuities (or CGA’s) are a contract between the donor and the University of Kentucky. The donor who establishes the CGA may designate himself/herself as the beneficiary of the life-time payments (a single-life CGA), or, the donor may elect to establish a two-life CGA whereby the donor and someone else the donor designates (such as a spouse) receive payments for the remainder of both of their lives. Following the establishment of the contract, the donor receives fixed payments for the remainder of their life and all of the payments are guaranteed to never fluctuate. For more information, please contact Gift and Estate Planning at (859) 257-7886.
Charitable Lead Trust
Charitable Lead Trusts provide donors with the ability to significantly lower their gift and estate taxes while supporting UK in return. A Charitable Lead Trust (or CLT) allows donors to transfer substantial assets to their beneficiaries (their children or grandchildren, for instance) and their beneficiaries may receive a larger inheritance than they would have received through an outright bequest. With a CLT, the donor transfers property, such as real estate, partnership interests, securities, bonds, oil and gas properties, or other such interests and investments to a trust. The “trustee” can be UK, a bank, the donor himself/herself or any combination of the aforementioned. The trust itself makes annual payments to the College of Law for a specified period. The payments, similar to a CRAT or CRUT, can be a fixed dollar amount, or, the payments may fluctuate if the payments are based on the annual value of the trust’s assets. Once the specified period of time has been satisfied (i.e. when the trust terminates in 5 to 20 years or more), the assets in the trust are transferred either back to the donor or to the donor’s specified beneficiaries typically, a family member in the next or succeeding generation. For more information, please contact Gift and Estate Planning at (859)257-7886.
Retirement Plans
Gifting a Retirement Plan to the College is an excellent way to support the College of Law. You can specify that the College receive all, or a portion, of your Retirement Plan. Some Retirement Plans are best suited to be charitably gifted because if they remain in one’s estate they could be subject to both income and estate taxes. For more information, please contact Gift and Estate Planning at (859) 257-7886.
Gifts of Property
The University of Kentucky Real Estate Foundation, UKREF, is available to supporters of the College who wish to gift real property to the College of Law. Should you wish to support the College with a gift of real property, such as a primary or secondary residence, commercial property, farm or other type of real property, the UKREF will need to know the type of property you are thinking of donating as well as the method of making the gift. For example:
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An outright gift of your real property.
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A gift of real property into a trust that provides payments to you or beneficiaries you designate. This is called a charitable remainder trust.
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A gift of real property wherein you retain certain interests, such as the right to live in your home for the duration of your life, and give the remainder to the College.The University of Kentucky Real Estate Foundation can provide you with further information about the tax and financial benefits of these and other gift methods. They can be contacted at 859-257-7886.
The University of Kentucky Real Estate Foundation can provide you with further information about the tax and financial benefits of these and other gift methods. They can be contacted at 859-257-7886.