Gift Planning Newsletter

WINTER 2013

Real Estate

A Grand Way to Help Others If you want to use real estate to support the University, you can make the gift in several ways.

Estate Planning Essentials You’re Invited When you support the future of Penn State

tax deduction.

Creating a will is a vital first step in creating a solid estate plan. Here are the five must-have documents you need to have in place.

and vision for our University and, more important, our students. This inspirational



Tool

Why You Need It



Will

The cornerstone of your estate plan, this document ensures your assets will be distributed exactly as you intend.

Trust

You can make special arrangements for the management of your assets for yourself and others.

Trusts can shelter assets for a surviving spouse and benefit heirs and charitable beneficiaries.

group is called The Atherton Society,

2 Make a gift through your will. Made as part of your estate plan, a

charitable bequest gives your estate an estate tax deduction and supports our students long after you’re gone.

named for George W. Atherton, Penn State’s seventh president, and his wife,



Frances. Their efforts laid the groundwork for today’s achievements, much like your

3 Consider a bargain sale. This is part gift, part sale, meaning we purchase

the property from you for less than its current value. This entitles you to a charitable income tax deduction based on the value of the gift portion, reduces your capital gains taxes, and provides you with cash from the sale.

gifts do today.



Living will

This document allows you to articulate your wishes concerning heroic, life-sustaining measures.

Join Us



Durable power of attorney

You can designate a trusted individual to handle legal and financial matters on your behalf.

Health care power of attorney

If you are unable to make health care decisions, this document stipulates who will make those decisions on your behalf.

Membership is offered to individuals who have included Penn State in their estate

4 Donate your home but keep living in it. Through a retained life estate,

you make a gift while retaining the right to use and occupy the property during your life. You realize an immediate income tax deduction for a portion of your home’s value.

plans or as a beneficiary of a planned gift. Your bequest commitment can help

of Penn State, please call the Office of Gift Planning



us reach the goals of For the Future:

Penn State to ensure your wishes are fulfilled in the future.

A Generous Life and an Enduring Legacy Reed Riker’s Lifetime of Giving Supports Penn State Students Although Reed Riker ’32 Eng lived to the age of 101, his legacy at Penn State will live on much longer.

A Bright Future For You Consider a gift that ensures your

Throughout his lifetime, the chemical engineering graduate, who passed away on August 11, 2012, established eleven gift annuities with the University, which will create scholarships across Penn State’s campuses and colleges.

“Reed was a truly remarkable person,” says Maria Russoniello, the director of development at Penn State Worthington Scranton who worked

future and brightens ours. Read about three unique gift options in our FREE guides. Simply return the enclosed survey and

The Campaign for Penn State Students.

Sharing your intentions with us allows

If you’re considering using real estate to support the future

Gift Planning Newsletter

through a planned gift, you join a group of alumni and friends who share a love

1 Give the property directly to Penn State. This earns you an immediate

Gift Planning Newsletter

© Penn State University and The Stelter Company The information in this publication is not intended as legal advice. For legal advice, please consult an attorney.

Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results.

we’ll send your copies today.

Penn State Office of Gift Planning

Office of Gift Planning 214 The 103 Building University Park, PA 16802 814-865-0872 Toll-free: 1-888-800-9170 giftplanning@psu.edu

www.giftplanning.psu.edu

Michael J. Degenhart Executive Director

Patricia L. Roenigk, Esq. Director, Individual Gift Planning

Brian J. McCullough, Esq. Gift Planning Officer

Jeanne M. Sallade Assistant Director

Larry J. Mroz Gift Planning Officer

Terri L. Assael Gift Planning Assistant

Photo: Lehigh Valley Health Network

at 888-800-9170.

6

“Reed had a passion for high-quality education and for helping talented and deserving students earn their degrees,” says Dean David Monk of the College of Education, where the Rikers established an undergraduate and a graduate scholarship.

“And his gifts will help us to continue pursuing those values—helping students realize their educational dreams and ensuring we continue to recruit highachieving and ambitious scholars.”

In addition to providing student assistance, Maria notes that the Rikers’ gift annuities and the scholarships they create will ensure Reed and Mabel’s lasting impact on the University.

“Anyone who met Reed will remember his intellect, integrity, and generosity,” Maria says. “It was an honor to know Reed, and now generations of future Penn Staters will be touched by his life as well.”

To learn how a gift annuity can work for you, please contact the Office of Gift Planning at 888-800-9170 or giftplanning@psu.edu. You

Thomas L. Parrish Associate Gift Planning Officer

Remembering Penn State

with Reed to establish an endowment at the campus. “He had a sincere interest in Penn State students, and he was always very focused on how he could help make their lives better.”

Having spent his career in the financial industry, Reed appreciated the benefits of gift annuities in providing an up-front tax deduction and a stable source of income.

The annuities also allowed Reed and his late wife, Mabel ’31 Edu, to pursue their philanthropic passions, establishing eight scholarship endowments at Penn State to benefit areas of the University that were significant to them: the College of Education, where Mabel earned her degree; Penn State Lehigh Valley and Penn State Worthington Scranton, regions where the couple lived and worked; the Penn State basketball team, a sport Reed enjoyed to watch and coach; and University-wide scholarships to support students with financial need.

can also find more information on our website, www.giftplanning.psu.edu.

The late Reed Riker ’32 Eng left a legacy of generosity to benefit future Penn State students.

Inside: PAGE 2: Why you need an estate plan PAGE 3: Build a more secure future PAGE 5: Consider a gift of real estate PAGE 6: Five must-have documents

ESTATE PLANNING TIPS TO HELP YOU ACHIEVE YOUR CHARITABLE GOALS

Build a Ladder of

SECURITY

The road to and through retirement can be unpredictable at times.

By establishing a series of charitable gift annuities with Penn State over a number of years, you can build a ladder of security for retirement that ends with a charitable gift.

A 2013 New Year’s Resolution

What Happens if You Don’t Have an Estate Plan?

If you die without a will, the laws of the state where you reside will determine how your property is divided among your closest surviving relatives. If you have a spouse and children, they may have to share part of your estate in proportions you wouldn’t have wanted. This can lead to family squabbles and serious financial consequences for your loved ones.

Is an Update Needed?

Simply having a will doesn’t mean you can rest easy, though. You must also keep it current. Look over the following list of items to see if an update is in store: You or someone in your family has recently had a change in marital status or welcomed a child.

A loved one has died.

You have moved to another state.

Tax laws have changed.

When reviewing your estate plan, please consider adding a gift to Penn State in your plan. Contact the Office of Gift Planning at 888-800-9170 or giftplanning@psu.edu today to discuss your options.

Your concerns have shifted from the needs of your young children to long-term care planning for your aging parents or even yourself.

You would like to use a portion of your estate to help support a favorite cause.

Also, in addition to a will, there are other essential documents you should have to round out your plan (see chart, Page 6).

For a One-Life Gift Annuity

Step 5 Feel secure in the present and future thanks to your gifts. This donation option ensures

Age

Gift Amount

Rate

Gift Annuity Payment

Charitable Deduction*

that you receive secure, steady payments

65

$10,000

4.7%

$470

$2,848

70

$10,000

5.1%

$510

$3,615

75

$10,000

5.8%

$580

$4,216

80

$10,000

6.8%

$680

$4,758

85

$10,000

7.8%

$780

$5,485

for the rest of your life. You may also name a beneficiary to share the payments while

PROTECT YOUR ESTATE Every year, we ritually make resolutions to improve our lives—exercise more, be on time, put more money into our savings accounts. While some resolutions are more critical than others, updating or creating your estate plan is one promise you must keep.

you are both alive or to continue receiving

Step 4

With a charitable gift annuity, you make a gift to Penn State and in return we make regular

lifetime payments after your passing. You can

Get paid more as you move up the ladder.

feel good about our future as well, because

The rate you receive with each rung in your

any remaining funds will benefit our brilliant

ladder is determined by your age at the

students and faculty.

*Based on annual payments and a 1.4 percent charitable midterm federal rate.

Deductions vary based on income earned.

you 5.1 percent of the initial gift amount per year for the remainder of your lifetime. Then

lifetime. Plus, when you make

the next gift annuity you create at age 75 could give you a fixed rate of 5.8 percent.

time you arrive at a higher age

4

Step 3 Enjoy the tax benefits of your gift.

bracket, you receive an increase

Each year you add a gift annuity to

in the payment rate you receive.

your ladder of security, you qualify for

Here’s how to build your ladder to a more secure financial future, one rung at a time.

At age 85, you will receive a total of $3,020 each year.

gift annuity you create at age 70 could pay

payments to you for your entire a “ladder” of your gifts, each

5

time of making the gift. For example, the

Step 2

3

a charitable income tax deduction for

Lay out the frequency of your

the value that is expected to remain for

gifts to the University. You might

Penn State after your lifetime.

consider establishing a gift annuity every year for five years or every five years for 20 years. You can

Next Steps If you need to have documents created or if major life events have occurred since you last reviewed your estate plan, you should meet with your estate planning attorney as soon as possible.

What Does Your Ladder Of Security Look Like?

2

choose the number of gift annuities and the space between each one.

Step 1 Determine how much you would like to

Visit www.giftplanning.psu.edu to learn how a series of charitable gift

donate to us in a series

annuities with Penn State can lead to a secure future for you and us.

of irrevocable gifts.

Remembering Penn State

Remembering Penn State

2

3

1

ESTATE PLANNING TIPS TO HELP YOU ACHIEVE YOUR CHARITABLE GOALS

Build a Ladder of

SECURITY

The road to and through retirement can be unpredictable at times.

By establishing a series of charitable gift annuities with Penn State over a number of years, you can build a ladder of security for retirement that ends with a charitable gift.

A 2013 New Year’s Resolution

What Happens if You Don’t Have an Estate Plan?

If you die without a will, the laws of the state where you reside will determine how your property is divided among your closest surviving relatives. If you have a spouse and children, they may have to share part of your estate in proportions you wouldn’t have wanted. This can lead to family squabbles and serious financial consequences for your loved ones.

Is an Update Needed?

Simply having a will doesn’t mean you can rest easy, though. You must also keep it current. Look over the following list of items to see if an update is in store: You or someone in your family has recently had a change in marital status or welcomed a child.

A loved one has died.

You have moved to another state.

Tax laws have changed.

When reviewing your estate plan, please consider adding a gift to Penn State in your plan. Contact the Office of Gift Planning at 888-800-9170 or giftplanning@psu.edu today to discuss your options.

Your concerns have shifted from the needs of your young children to long-term care planning for your aging parents or even yourself.

You would like to use a portion of your estate to help support a favorite cause.

Also, in addition to a will, there are other essential documents you should have to round out your plan (see chart, Page 6).

For a One-Life Gift Annuity

Step 5 Feel secure in the present and future thanks to your gifts. This donation option ensures

Age

Gift Amount

Rate

Gift Annuity Payment

Charitable Deduction*

that you receive secure, steady payments

65

$10,000

4.7%

$470

$2,848

70

$10,000

5.1%

$510

$3,615

75

$10,000

5.8%

$580

$4,216

80

$10,000

6.8%

$680

$4,758

85

$10,000

7.8%

$780

$5,485

for the rest of your life. You may also name a beneficiary to share the payments while

PROTECT YOUR ESTATE Every year, we ritually make resolutions to improve our lives—exercise more, be on time, put more money into our savings accounts. While some resolutions are more critical than others, updating or creating your estate plan is one promise you must keep.

you are both alive or to continue receiving

Step 4

With a charitable gift annuity, you make a gift to Penn State and in return we make regular

lifetime payments after your passing. You can

Get paid more as you move up the ladder.

feel good about our future as well, because

The rate you receive with each rung in your

any remaining funds will benefit our brilliant

ladder is determined by your age at the

students and faculty.

*Based on annual payments and a 1.4 percent charitable midterm federal rate.

Deductions vary based on income earned.

you 5.1 percent of the initial gift amount per year for the remainder of your lifetime. Then

lifetime. Plus, when you make

the next gift annuity you create at age 75 could give you a fixed rate of 5.8 percent.

time you arrive at a higher age

4

Step 3 Enjoy the tax benefits of your gift.

bracket, you receive an increase

Each year you add a gift annuity to

in the payment rate you receive.

your ladder of security, you qualify for

Here’s how to build your ladder to a more secure financial future, one rung at a time.

At age 85, you will receive a total of $3,020 each year.

gift annuity you create at age 70 could pay

payments to you for your entire a “ladder” of your gifts, each

5

time of making the gift. For example, the

Step 2

3

a charitable income tax deduction for

Lay out the frequency of your

the value that is expected to remain for

gifts to the University. You might

Penn State after your lifetime.

consider establishing a gift annuity every year for five years or every five years for 20 years. You can

Next Steps If you need to have documents created or if major life events have occurred since you last reviewed your estate plan, you should meet with your estate planning attorney as soon as possible.

What Does Your Ladder Of Security Look Like?

2

choose the number of gift annuities and the space between each one.

Step 1 Determine how much you would like to

Visit www.giftplanning.psu.edu to learn how a series of charitable gift

donate to us in a series

annuities with Penn State can lead to a secure future for you and us.

of irrevocable gifts.

Remembering Penn State

Remembering Penn State

2

3

1

ESTATE PLANNING TIPS TO HELP YOU ACHIEVE YOUR CHARITABLE GOALS

Build a Ladder of

SECURITY

The road to and through retirement can be unpredictable at times.

By establishing a series of charitable gift annuities with Penn State over a number of years, you can build a ladder of security for retirement that ends with a charitable gift.

A 2013 New Year’s Resolution

What Happens if You Don’t Have an Estate Plan?

If you die without a will, the laws of the state where you reside will determine how your property is divided among your closest surviving relatives. If you have a spouse and children, they may have to share part of your estate in proportions you wouldn’t have wanted. This can lead to family squabbles and serious financial consequences for your loved ones.

Is an Update Needed?

Simply having a will doesn’t mean you can rest easy, though. You must also keep it current. Look over the following list of items to see if an update is in store: You or someone in your family has recently had a change in marital status or welcomed a child.

A loved one has died.

You have moved to another state.

Tax laws have changed.

When reviewing your estate plan, please consider adding a gift to Penn State in your plan. Contact the Office of Gift Planning at 888-800-9170 or giftplanning@psu.edu today to discuss your options.

Your concerns have shifted from the needs of your young children to long-term care planning for your aging parents or even yourself.

You would like to use a portion of your estate to help support a favorite cause.

Also, in addition to a will, there are other essential documents you should have to round out your plan (see chart, Page 6).

For a One-Life Gift Annuity

Step 5 Feel secure in the present and future thanks to your gifts. This donation option ensures

Age

Gift Amount

Rate

Gift Annuity Payment

Charitable Deduction*

that you receive secure, steady payments

65

$10,000

4.7%

$470

$2,848

70

$10,000

5.1%

$510

$3,615

75

$10,000

5.8%

$580

$4,216

80

$10,000

6.8%

$680

$4,758

85

$10,000

7.8%

$780

$5,485

for the rest of your life. You may also name a beneficiary to share the payments while

PROTECT YOUR ESTATE Every year, we ritually make resolutions to improve our lives—exercise more, be on time, put more money into our savings accounts. While some resolutions are more critical than others, updating or creating your estate plan is one promise you must keep.

you are both alive or to continue receiving

Step 4

With a charitable gift annuity, you make a gift to Penn State and in return we make regular

lifetime payments after your passing. You can

Get paid more as you move up the ladder.

feel good about our future as well, because

The rate you receive with each rung in your

any remaining funds will benefit our brilliant

ladder is determined by your age at the

students and faculty.

*Based on annual payments and a 1.4 percent charitable midterm federal rate.

Deductions vary based on income earned.

you 5.1 percent of the initial gift amount per year for the remainder of your lifetime. Then

lifetime. Plus, when you make

the next gift annuity you create at age 75 could give you a fixed rate of 5.8 percent.

time you arrive at a higher age

4

Step 3 Enjoy the tax benefits of your gift.

bracket, you receive an increase

Each year you add a gift annuity to

in the payment rate you receive.

your ladder of security, you qualify for

Here’s how to build your ladder to a more secure financial future, one rung at a time.

At age 85, you will receive a total of $3,020 each year.

gift annuity you create at age 70 could pay

payments to you for your entire a “ladder” of your gifts, each

5

time of making the gift. For example, the

Step 2

3

a charitable income tax deduction for

Lay out the frequency of your

the value that is expected to remain for

gifts to the University. You might

Penn State after your lifetime.

consider establishing a gift annuity every year for five years or every five years for 20 years. You can

Next Steps If you need to have documents created or if major life events have occurred since you last reviewed your estate plan, you should meet with your estate planning attorney as soon as possible.

What Does Your Ladder Of Security Look Like?

2

choose the number of gift annuities and the space between each one.

Step 1 Determine how much you would like to

Visit www.giftplanning.psu.edu to learn how a series of charitable gift

donate to us in a series

annuities with Penn State can lead to a secure future for you and us.

of irrevocable gifts.

Remembering Penn State

Remembering Penn State

2

3

1

WINTER 2013

Real Estate

A Grand Way to Help Others If you want to use real estate to support the University, you can make the gift in several ways.

Estate Planning Essentials You’re Invited When you support the future of Penn State

tax deduction.

Creating a will is a vital first step in creating a solid estate plan. Here are the five must-have documents you need to have in place.

and vision for our University and, more important, our students. This inspirational



Tool

Why You Need It



Will

The cornerstone of your estate plan, this document ensures your assets will be distributed exactly as you intend.

Trust

You can make special arrangements for the management of your assets for yourself and others.

Trusts can shelter assets for a surviving spouse and benefit heirs and charitable beneficiaries.

group is called The Atherton Society,

2 Make a gift through your will. Made as part of your estate plan, a

charitable bequest gives your estate an estate tax deduction and supports our students long after you’re gone.

named for George W. Atherton, Penn State’s seventh president, and his wife,



Frances. Their efforts laid the groundwork for today’s achievements, much like your

3 Consider a bargain sale. This is part gift, part sale, meaning we purchase

the property from you for less than its current value. This entitles you to a charitable income tax deduction based on the value of the gift portion, reduces your capital gains taxes, and provides you with cash from the sale.

gifts do today.



Living will

This document allows you to articulate your wishes concerning heroic, life-sustaining measures.

Join Us



Durable power of attorney

You can designate a trusted individual to handle legal and financial matters on your behalf.

Health care power of attorney

If you are unable to make health care decisions, this document stipulates who will make those decisions on your behalf.

Membership is offered to individuals who have included Penn State in their estate

4 Donate your home but keep living in it. Through a retained life estate,

you make a gift while retaining the right to use and occupy the property during your life. You realize an immediate income tax deduction for a portion of your home’s value.

plans or as a beneficiary of a planned gift. Your bequest commitment can help

of Penn State, please call the Office of Gift Planning



us reach the goals of For the Future:

Penn State to ensure your wishes are fulfilled in the future.

A Generous Life and an Enduring Legacy Reed Riker’s Lifetime of Giving Supports Penn State Students Although Reed Riker ’32 Eng lived to the age of 101, his legacy at Penn State will live on much longer.

A Bright Future For You Consider a gift that ensures your

Throughout his lifetime, the chemical engineering graduate, who passed away on August 11, 2012, established eleven gift annuities with the University, which will create scholarships across Penn State’s campuses and colleges.

“Reed was a truly remarkable person,” says Maria Russoniello, the director of development at Penn State Worthington Scranton who worked

future and brightens ours. Read about three unique gift options in our FREE guides. Simply return the enclosed survey and

The Campaign for Penn State Students.

Sharing your intentions with us allows

If you’re considering using real estate to support the future

Gift Planning Newsletter

through a planned gift, you join a group of alumni and friends who share a love

1 Give the property directly to Penn State. This earns you an immediate

Gift Planning Newsletter

© Penn State University and The Stelter Company The information in this publication is not intended as legal advice. For legal advice, please consult an attorney.

Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results.

we’ll send your copies today.

Penn State Office of Gift Planning

Office of Gift Planning 214 The 103 Building University Park, PA 16802 814-865-0872 Toll-free: 1-888-800-9170 giftplanning@psu.edu

www.giftplanning.psu.edu

Michael J. Degenhart Executive Director

Patricia L. Roenigk, Esq. Director, Individual Gift Planning

Brian J. McCullough, Esq. Gift Planning Officer

Jeanne M. Sallade Assistant Director

Larry J. Mroz Gift Planning Officer

Terri L. Assael Gift Planning Assistant

Photo: Lehigh Valley Health Network

at 888-800-9170.

6

“Reed had a passion for high-quality education and for helping talented and deserving students earn their degrees,” says Dean David Monk of the College of Education, where the Rikers established an undergraduate and a graduate scholarship.

“And his gifts will help us to continue pursuing those values—helping students realize their educational dreams and ensuring we continue to recruit highachieving and ambitious scholars.”

In addition to providing student assistance, Maria notes that the Rikers’ gift annuities and the scholarships they create will ensure Reed and Mabel’s lasting impact on the University.

“Anyone who met Reed will remember his intellect, integrity, and generosity,” Maria says. “It was an honor to know Reed, and now generations of future Penn Staters will be touched by his life as well.”

To learn how a gift annuity can work for you, please contact the Office of Gift Planning at 888-800-9170 or giftplanning@psu.edu. You

Thomas L. Parrish Associate Gift Planning Officer

Remembering Penn State

with Reed to establish an endowment at the campus. “He had a sincere interest in Penn State students, and he was always very focused on how he could help make their lives better.”

Having spent his career in the financial industry, Reed appreciated the benefits of gift annuities in providing an up-front tax deduction and a stable source of income.

The annuities also allowed Reed and his late wife, Mabel ’31 Edu, to pursue their philanthropic passions, establishing eight scholarship endowments at Penn State to benefit areas of the University that were significant to them: the College of Education, where Mabel earned her degree; Penn State Lehigh Valley and Penn State Worthington Scranton, regions where the couple lived and worked; the Penn State basketball team, a sport Reed enjoyed to watch and coach; and University-wide scholarships to support students with financial need.

can also find more information on our website, www.giftplanning.psu.edu.

The late Reed Riker ’32 Eng left a legacy of generosity to benefit future Penn State students.

Inside: PAGE 2: Why you need an estate plan PAGE 3: Build a more secure future PAGE 5: Consider a gift of real estate PAGE 6: Five must-have documents

WINTER 2013

Real Estate

A Grand Way to Help Others If you want to use real estate to support the University, you can make the gift in several ways.

Estate Planning Essentials You’re Invited When you support the future of Penn State

tax deduction.

Creating a will is a vital first step in creating a solid estate plan. Here are the five must-have documents you need to have in place.

and vision for our University and, more important, our students. This inspirational



Tool

Why You Need It



Will

The cornerstone of your estate plan, this document ensures your assets will be distributed exactly as you intend.

Trust

You can make special arrangements for the management of your assets for yourself and others.

Trusts can shelter assets for a surviving spouse and benefit heirs and charitable beneficiaries.

group is called The Atherton Society,

2 Make a gift through your will. Made as part of your estate plan, a

charitable bequest gives your estate an estate tax deduction and supports our students long after you’re gone.

named for George W. Atherton, Penn State’s seventh president, and his wife,



Frances. Their efforts laid the groundwork for today’s achievements, much like your

3 Consider a bargain sale. This is part gift, part sale, meaning we purchase

the property from you for less than its current value. This entitles you to a charitable income tax deduction based on the value of the gift portion, reduces your capital gains taxes, and provides you with cash from the sale.

gifts do today.



Living will

This document allows you to articulate your wishes concerning heroic, life-sustaining measures.

Join Us



Durable power of attorney

You can designate a trusted individual to handle legal and financial matters on your behalf.

Health care power of attorney

If you are unable to make health care decisions, this document stipulates who will make those decisions on your behalf.

Membership is offered to individuals who have included Penn State in their estate

4 Donate your home but keep living in it. Through a retained life estate,

you make a gift while retaining the right to use and occupy the property during your life. You realize an immediate income tax deduction for a portion of your home’s value.

plans or as a beneficiary of a planned gift. Your bequest commitment can help

of Penn State, please call the Office of Gift Planning



us reach the goals of For the Future:

Penn State to ensure your wishes are fulfilled in the future.

A Generous Life and an Enduring Legacy Reed Riker’s Lifetime of Giving Supports Penn State Students Although Reed Riker ’32 Eng lived to the age of 101, his legacy at Penn State will live on much longer.

A Bright Future For You Consider a gift that ensures your

Throughout his lifetime, the chemical engineering graduate, who passed away on August 11, 2012, established eleven gift annuities with the University, which will create scholarships across Penn State’s campuses and colleges.

“Reed was a truly remarkable person,” says Maria Russoniello, the director of development at Penn State Worthington Scranton who worked

future and brightens ours. Read about three unique gift options in our FREE guides. Simply return the enclosed survey and

The Campaign for Penn State Students.

Sharing your intentions with us allows

If you’re considering using real estate to support the future

Gift Planning Newsletter

through a planned gift, you join a group of alumni and friends who share a love

1 Give the property directly to Penn State. This earns you an immediate

Gift Planning Newsletter

© Penn State University and The Stelter Company The information in this publication is not intended as legal advice. For legal advice, please consult an attorney.

Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results.

we’ll send your copies today.

Penn State Office of Gift Planning

Office of Gift Planning 214 The 103 Building University Park, PA 16802 814-865-0872 Toll-free: 1-888-800-9170 giftplanning@psu.edu

www.giftplanning.psu.edu

Michael J. Degenhart Executive Director

Patricia L. Roenigk, Esq. Director, Individual Gift Planning

Brian J. McCullough, Esq. Gift Planning Officer

Jeanne M. Sallade Assistant Director

Larry J. Mroz Gift Planning Officer

Terri L. Assael Gift Planning Assistant

Photo: Lehigh Valley Health Network

at 888-800-9170.

6

“Reed had a passion for high-quality education and for helping talented and deserving students earn their degrees,” says Dean David Monk of the College of Education, where the Rikers established an undergraduate and a graduate scholarship.

“And his gifts will help us to continue pursuing those values—helping students realize their educational dreams and ensuring we continue to recruit highachieving and ambitious scholars.”

In addition to providing student assistance, Maria notes that the Rikers’ gift annuities and the scholarships they create will ensure Reed and Mabel’s lasting impact on the University.

“Anyone who met Reed will remember his intellect, integrity, and generosity,” Maria says. “It was an honor to know Reed, and now generations of future Penn Staters will be touched by his life as well.”

To learn how a gift annuity can work for you, please contact the Office of Gift Planning at 888-800-9170 or giftplanning@psu.edu. You

Thomas L. Parrish Associate Gift Planning Officer

Remembering Penn State

with Reed to establish an endowment at the campus. “He had a sincere interest in Penn State students, and he was always very focused on how he could help make their lives better.”

Having spent his career in the financial industry, Reed appreciated the benefits of gift annuities in providing an up-front tax deduction and a stable source of income.

The annuities also allowed Reed and his late wife, Mabel ’31 Edu, to pursue their philanthropic passions, establishing eight scholarship endowments at Penn State to benefit areas of the University that were significant to them: the College of Education, where Mabel earned her degree; Penn State Lehigh Valley and Penn State Worthington Scranton, regions where the couple lived and worked; the Penn State basketball team, a sport Reed enjoyed to watch and coach; and University-wide scholarships to support students with financial need.

can also find more information on our website, www.giftplanning.psu.edu.

The late Reed Riker ’32 Eng left a legacy of generosity to benefit future Penn State students.

Inside: PAGE 2: Why you need an estate plan PAGE 3: Build a more secure future PAGE 5: Consider a gift of real estate PAGE 6: Five must-have documents