A Smart Gift to Leave to UTMB
Like retirement plan assets, commercial annuities provide for tax-deferred growth while the owner is living. Because distributions from commercial annuities are subject to income taxes, they are often considered among the best assets to leave to charity. Due to our tax-exempt status, the University of Texas Medical Branch at Galveston can receive your commercial annuity completely tax-free when you name us as beneficiary.
Making this gift is as simple as updating your beneficiary form with your bank or insurance company. You can designate us as the primary beneficiary for a percentage or specific amount. You can also make us the contingent beneficiary so that we will receive the balance of your policy only if your primary beneficiary doesn’t survive you.
Not Sure How to Begin Planning?Download our FREE Personal Estate Planning Kit
- Contact Betsy B. Clardy, CFRE at 409.772.5715 or email@example.com for additional information on commercial annuities.
- Seek the advice of your financial or legal advisor.
- If you include UTMB in your plans, please use our legal name and federal tax ID.
Legal Name: Board of Regents of The University of Texas System for the benefit of The University of Texas Medical Branch at Galveston
Address: 301 University Boulevard, Galveston Texas 77555-0148
Federal Tax ID Number: 30-0710145
The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.