There are many things to consider when planning for your estate plans and setting up your Will. Establishing a philanthropic endowment from a percentage of your estate or Will makes an enduring impact on the issues that are most important to you. An estate gift or planned gift is a way to give back to the communities that supported you in your life and a way to leave your legacy to the causes that most impacted you.
Such an endowment through your estate will continue your support of your most important passions, causes or interests to benefit future generations in your community. You will have to do this through an institution that will administer your endowment gift. For example, a planned gift of your estate or Will to a university is a great way to make a lasting impact to a program, research or project that aligns with your passions. Endowment gifts live in perpetuity at the institution where it is established.
When you make an endowment gift the principal is invested, and a percentage of the earnings is distributed to the area you designated. This allows your gift to continue to support students, faculty, or community program through the university for generations to come.
The University of California, Davis (UC Davis) is a comprehensive, public American university that trains nearly 40,000 students with an international community of students and scholars from over 140 different countries. With over hundreds of areas of expertise, you can find your personal interests in the programs, research and projects that UC Davis supports. UC Davis is able to leverage expertise of interdisciplinary research to create innovative solutions to the issues facing the world today and future global challenges to come.
One of the ways that UC Davis uses its strength of interdisciplinary research and collaboration is to develop climate solutions that impact every nation. Bringing together partners in industry, government, NGOs and communities, the One Climate Initiative is a way for your legacy to contribute to creating state-of-the-art carbon farming technologies and fostering development of science, tools and policies to help communities adapt to the impacts of climate change.
This includes catalyzing indoor farming initiatives to improve Singapore’s agriculture industry. With a top world ranking college in agriculture and environmental science, UC Davis envisions working with local Singapore institutions in breeding, innovating, and sustaining indoor farms to achieve its “30/30” goals for food security and nutrition, i.e. 30% of Singapore food to be produced locally by 2030.
Other ways to leave an enduring legacy through an endowed gift include supporting international students’ professional success, scholarships for student access to higher education, or travel awards for global learning via internships, research, study abroad semesters, and exchange programs.
As stable institutions, universities have the capacity to support research, education, training, projects, programs in “forever” timeframes. Universities are here to stay – catalyzing innovations and creating new knowledge to address challenges to humanity, plus delivering the relevant leaders and workforce needed. A philanthropic gift of a portion of your estate or Will to a university is a way for you to contribute to your passions and personal interests beyond your lifetime, to give back to your community and the world.
This article was first published in our newsletter, The Custodian Issue 15 on Sep, 2020. Click here to access our latest newsletter.
