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Reflect Your Values Through Your Will

A will is the most important document you can create. Though often seen as simply a legal document that only those trained to read it can understand, it is so much more.

Your will is your legacy. It dictates how you will be remembered and can be created to reflect your values. That’s why, no matter your age or wealth status, you should be sure to take time to consider this important document this year.

Use your will to:

  • Name a guardian for minor children and dependent adults.
  • Dictate how you want your assets to be distributed.
  • Ensure your pets are taken care of.
  • Reduce the administrative expenses of your estate.
  • Make sure your support for the organizations you love, like the NMSU Foundation, continues.

There’s an easy way for you to continue supporting our work without giving anything today: by including a gift to the New Mexico State University Foundation in your will.

Advantages of a Gift in Your Will:

  • Simplicity. As little as one sentence in your will or living trust is all that is needed to complete your gift.
  • Flexibility. Until your will or trust goes into effect, you are free to alter your plans as needed to reflect life’s changes.
  • Versatility. You can give a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

Here’s How It Works:

Your estate planning attorney can help you structure a gift so your loved ones will be taken care of first after you’re gone. They will include special language in the will or living trust you create, or add it to existing documents through an amendment called a codicil.

A Gift in Your Estate Plan Is Right for You If:

  • You want to make sure your support of the NMSU Foundation continues after your lifetime.
  • You want to balance your generosity to us with an assurance that loved ones are taken care of first.
  • You want to maintain the flexibility to change your mind about your gift at any time.

Already Have a Will?

Great! Make sure it is up to date. It’s a good idea to review your will regularly or when you experience a life event such as a marriage, birth or move. This makes sure your will accomplishes what you want and takes your current state’s law into consideration.

A Simple Gift

To learn more about making a gift to support the New Mexico State University Foundation in your will, contact Steven Covington at plannedgiving@nmsufoundation.org or (575) 646-3190 or (800) 342-6678. We are happy to help you get started and can provide sample language your attorney can use to make your gift.

A charitable bequest is one or two sentences in your will or living trust that leave to the New Mexico State University 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 New Mexico State University Foundation, a nonprofit corporation currently located at P.O. Box 3590, Las Cruces, NM 88003, 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 the NMSU Foundation 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 NMSU's 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 the NMSU Foundation 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 the NMSU Foundation 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 the NMSU Foundation where you agree to make a gift to the NMSU Foundation 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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