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 Lane History Corner

Good Counsel

Creating a planned gift that’s meaningful to you

By Jonrie Davila, Senior Associate Director, Office of Planned Giving

Planning your gift to benefit Stanford in the future is an opportunity to express what matters to you. I’ve worked with alums and friends of Stanford to ensure that their planned gifts are designated for a purpose that meets their goals for leaving a legacy—such as  undergraduate scholarships, support for specific programs, or unrestricted gifts to help meet Stanford’s highest priorities.

Doni, AM ’68, and Sid Hubbard, featured in the Summer 2022 issue of Remember Stanford, chose to honor two professors who deeply influenced Doni’s student experience. A portion of their gift also expresses their gratitude for the Stanford fellowship that made it possible for Doni to earn her master’s degree from the Stanford Graduate School of Education.

When the Hubbards contacted the Office of Planned Giving in 2021, they wanted to learn more about making a planned gift that would provide them with a steady income stream for life, using an investment property as the funding asset. They had recently bought out a third investor in a rental home and now owned it outright, and favorable market conditions indicated it could be a good time to sell. Now retired, they were also eager to simplify their lives with one less responsibility to manage.

After evaluating their options, the Hubbards decided to establish a charitable remainder unitrust, which provides them with a significant charitable deduction from their income tax. Sid served as the initial trustee and decided to sell the property. After the sale of the house was complete, Sid  turned the trustee duties over to Stanford. Stanford then invested the trust assets and now makes lifetime quarterly income payments to the Hubbards.

The couple also designated how Stanford is to use any remaining funds after their lifetimes. Half of the funds are unrestricted for Stanford to use for its highest priorities in the future, and the rest is divided between the Graduate School of Education and the Department of History in honor of two of Doni’s favorite professors.

You choose what matters

When making planned gifts, some donors choose to make an unrestricted gift—as the Hubbards did with a portion of their charitable remainder unitrust—since it will greatly benefit the university’s needs in the years to come. Others may choose to designate their gift for a specific purpose, like scholarships. 

Donors can also decide if they want to make their gifts expendable—to be used as soon as the funds are available—or, if of sufficient size, endowed, meaning that only a payout from the fund established with their gift will be used annually so that the fund may last in perpetuity.

The staff in the Office of Planned Giving is here to help. Our goal is always to work collaboratively, honor your intentions, and help you apply your generosity thoughtfully and wisely. We are also happy to work directly with your CPA, estate planning attorney, or other financial advisors.

If you have already included Stanford in your estate plan, please let us know, as we would appreciate the opportunity to thank you and recognize you as a member of the university’s Founding Grant Society.