FOR RICE OWLS, THE PURSUIT OF EXCELLENCE IS A LIFELONG QUEST.
When navigating your epic journey, it’s okay to ask for directions along the way. Whether you are just beginning your career, starting a family, running a company, directing novel research or enjoying retirement, Rice’s Office of Gift Planning is right alongside you offering giving options that help you, your family and the future of Rice.
AFTER GRADUATION
3.2.1 … LAUNCH. Congrats, grad! After walking through the Sallyport, you are embarking on a bold, new adventure with a lot of decisions ahead of you — where to work, where to live and how to do it all. There is a lot to consider, and it is never too early to begin thinking about your estate plans.
YOUR MISSION
Whether you have a life insurance or retirement policy through your first job, assets you have inherited, a new startup or family responsibilities, it is especially important to have a plan that will benefit you and your loved ones. You can designate Rice or other family members as beneficiaries on these plans, and it’s time to set up powers of attorney. Stay connected to your alma mater by joining a regional alumni group, attending Beer Bike, making your first gift to the Rice Annual Fund or returning to campus for Alumni Weekend.
IN YOUR THIRTIES AND FORTIES
As you gain momentum in your career, there will be lots of exciting changes and challenges in your life. You may be starting a family, accumulating more assets and gaining responsibilities. Even though you have a long journey ahead of you, it is a good time to begin a blueprint for your financial future.
YOUR MISSION
At this stage in your life, you should continue to update beneficiaries, powers of attorney and an advanced directive for all of your accounts. With more experience under your belt, this is a great time to mentor Owls by hosting externships and internships, to support a school or program you are passionate about, or to participate in reunion giving campaigns.
IN YOUR FIFTIES AND SIXTIES
You are now accelerating toward exciting new territory. Whether you’re thinking about retirement or charting a new venture, you have a lot to look forward to. As you navigate the gravitational forces of family, work and aspirations, it’s also important to take stock of your estate plans.
YOUR MISSION
Take a look around you — things may have changed since the last time you updated your will and beneficiaries. Perhaps you have accumulated more complex assets or welcomed grandchildren into your growing family. Now is a great time to begin thinking about tax-wise options for giving that will benefit you and your loved ones later in life, such as establishing a flexible deferred charitable gift annuity. Endowing scholarships, creating a named faculty position or funding new areas of research are just some of the many ways your gift can make a difference at Rice.
IN YOUR SEVENTIES
Time to sit back, relax and take in the scenery. Once you retire, you may have the chance to embark on some of the side missions that you never got around to when you were just starting your journey. Whether you are exploring parts unknown on a Traveling Owls trip, making new connections or trying a new hobby, retirement provides you with the opportunity to reflect on your great adventure.
YOUR MISSION
This is a time to take advantage of giving vehicles that provide you and your family with tax benefits, such as IRA Charitable Rollover gifts. Your 50th Reunion is on the horizon, providing a great opportunity to think about your own legacy. Consider supporting the university by establishing a charitable remainder trust, which also provides you with income for life. Setting up a bequest to Rice in your will, creating a revocable trust or selecting Rice as a retirement plan beneficiary are all great ways to support future Owls, and you will be recognized as a member of the Captain James A. Baker Society!
IN YOUR EIGHTIES AND NINETIES
You’ve come a long way since graduating. Throughout your life, you’ve traversed countless challenges and triumphs as you forged a unique path to where you are today. As you look back on your journey, you may consider supporting future generations of Owls as they chart their own epic adventure.
YOUR MISSION
This stage of life brings lots of changes, and it is important for you and your loved ones to be prepared. Update your will and share any relevant documents with those who are mentioned to ensure your wishes are carried out. Look over your beneficiary designations and percentages and make any necessary changes. If you are still living in your home, you can arrange a retained life estate gift that supports nonprofits like Rice and allows you to maintain ownership while receiving tax deductions.
Thinking about your legacy can seem like a giant leap, but Rice’s Office of Gift Planning is here to help!
giftplan.rice.edu | 713-348-4624
