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Kaplans Show Their Commitment To Education With UNLV Gift

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Saundra and Alan Kaplan

Saundra and Alan Kaplan's commitment to education is so great that they made a gift to UNLV without ever setting foot on campus. The
couple, who live in Swannanoa, N.C., own a house in Las Vegas, but found they didn't have a need for the property. So the two University of Miami graduates went to UNLV with the idea that the house could be used to create full-tuition scholarships.

The Kaplans' reasoning was simple: They don't have children and "have always found that education makes a difference," says Saundra.

Saundra has been a CPA for 46 years and Alan retired in 1994, but prior to that his business was "making sick companies well," he says. She went to college on a full-tuition scholarship and Alan jokes that the University of Miami was just nice enough to let him in. The Kaplans have richly rewarded their alma mater, but didn't see why their giving should stop there. They live half a mile from Warren Wilson College and are significant donors and volunteers. Saundra is also on the board of trustees. They've given gifts to Florida Gulf Coast University as well. "We are very used to giving money to colleges," Saundra says.

A Wall Street Journal article helped lead the Kaplans to learn how they could donate their house in Las Vegas while also giving money to a college as they had been doing in the past—and as they plan to do throughout their lifetimes and after.

The Kaplans' gift is part of UNLV's $500 million Invent the Future campaign and is an example of just one of the many estate planning vehicles UNLV uses that provides tax benefits for donors.

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A charitable bequest is one or two sentences in your will or living trust that leave to the UNLV Foundation 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 give to the UNLV Foundation, a nonprofit corporation currently located at 4505 S. Maryland Parkway/Box 451006, Las Vegas, NV 89154-1006 , or its successor thereto, ______________* [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 UNLV 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 potential 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 may qualify for a federal income tax charitable deduction when you itemize. 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 UNLV as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. 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 UNLV 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 UNLV where you agree to make a gift to UNLV 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.

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