Make us a beneficiary of your IRA or other “non-probate” assets

Why beneficiary designations are so powerful

Assets not included in your will are called non-probate assets. Examples are 401(k)s, IRAs, life insurance policies, and other accounts. Designating the Western Carolina University Foundation as a beneficiary can have a big impact and may avoid unwanted taxes for your heirs.

Charitable benefits

Receive an estate tax charitable deduction

Reduce the burden of taxes on your family

Continue to use assets or property during your lifetime

Leave a lasting legacy to Western Carolina University Foundation

Common gifted assets for beneficiaries

IRA
401(k)
Life insurance
Joint real estate
Joint bank accounts
Joint property ownership

Designate Western Carolina University Foundation as a beneficiary to one or more of your accounts.

We have partnered with FreeWill to offer this free online platform that will walk you through the process of setting up your beneficiaries. These gifts have a big impact and can often prevent unwanted taxation.

Plan your beneficiaries

Make a Gift…Leave A Legacy

Show your family how much you care by creating or updating your will or estate plan. When you make a gift to the Western Carolina University Foundation through your will, trust, or retirement plan, you’re helping support future Catamounts for years to come. Estate gifts offer creative, flexible strategies for your estate and charitable planning.

Phil Cauley

Longtime staff donor gives in honor of those who supported him as a WCU student

“I choose to give back to WCU because of those who poured into me when I was a student. I enrolled as an undergraduate without a major, without direction and without a plan,” he said. “I had so many encouragers who poured into me.” “I think it’s important that I’m willing to do what I ask our students to do,” he said. “One pledge of the Creed declares, ‘I will embrace my responsibilities as a member of this community.’ Another action statement pledges, ‘I will engage myself in the artistic, cultural and academic life of my university.’ The Creed ends with this punctuated ‘will’ declaration, ‘I will celebrate and express pride in Western Carolina University.’ Giving back to the community that has given so much to me is a tangible way to ‘live the Creed’ – embrace responsibilities, engage myself and express pride.”

Frequently Asked Questions

What is some of the Sample Bequest language I need to include in my will or trust to support WCU?

SPECIFIC DOLLAR AMOUNT: I hereby give, devise, and bequeath $DOLLARS to the Western Carolina University Foundation, a nonprofit organization located at 201 H.F. Robinson, Cullowhee, NC, 28723, Federal Tax ID #23- 7159170, for the Western Carolina University Foundation’s general use and purpose. PERCENTAGE OF ESTATE: I hereby give, devise, and bequeath PERCENTAGE OF YOUR ESTATE to the Western Carolina University Foundation, a nonprofit organization located at 201 H.F. Robinson, Cullowhee, NC, 28723, Federal Tax ID #23-7159170, for the Western Carolina University Foundation’s general use and purpose. SPECIFIC PERSONAL PROPERTY: I hereby give, devise, and bequeath DESCRIPTION OF PROPERTY to the Western Carolina University Foundation, a nonprofit organization located at 201 H.F. Robinson, Cullowhee, NC, 28723, Federal Tax ID #23- 7159170, for the Western Carolina University Foundation’s general use and purposes. If you are considering a bequest but would like to ensure that your bequest will be used only for a specific purpose, please let us know. We would be happy to work with you and your attorney to help you identify ways to give that will ensure your charitable objectives can be met. We will also work with you and your attorney to craft language to accomplish your objectives.

What is a “non-probate” asset?

A non-probate asset is an account or other asset that won’t be governed by the decisions you make in a will. Instead, these accounts commonly have an assigned beneficiary that you choose. Types of non-probate assets include many retirement accounts, life insurance, some bank accounts and some assets (like a house or vehicle) that you jointly own with another person.

Which non-probate asset is most commonly given to charity?

The most commonly gifted non-probate asset is an IRA or 401(k). This is because these accounts are always taxed (even for people below the estate tax threshold). Giving these accounts to charity keeps your heirs from having to pay unexpected taxes.

Is a beneficiary designation different from a will?

Yes! Even if you have a will in place you still need to designate beneficiaries for your non-probate assets.

Is my estate big enough to leave a planned gift?

Yes! Gifts of any size are deeply appreciated. Many people choose to leave a percentage of their estate, which scales up or down with your estate size.

Does it cost anything to make beneficiary designations?

No. You can usually make these easily and at no cost to you.

Can I edit my designations after I’m done?

Yes. You are always free to revise or update your estate plans.

We’re here to help you meet your goals!

Our team would be happy to speak with you in confidence about your giving goals, with no obligation.

Name: Ben Pendry

Title :Associate Vice Chancellor for Advancement

Phone: 828-227-7124

Email: bjpendry@wcu.edu

Already included us in your estate plan? Let us know

More ways to make an impact

Gifts in a will or trust

Donations in your will or trust are (by far) the most popular type of planned gift. Learn more, or get help starting your will (for free!).

Learn more

Popular tax-smart gifts

Many people are increasingly choosing to give non-cash assets, so they can have a bigger impact at less cost to them.

Learn more

Gifts that pay you back

Give assets while providing yourself or others with income for a period of time or distributions at a later date.

Learn more