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Financial Help Can Be Life-Saving

Leighton Sayers

When reflecting on his days at TU, Leigh Sayers '68 says he "met many wonderful people and had a positive learning experience."

Leighton (Leigh) Sayers, class of 1968, has been a loyal supporter of Tiffin University for a decade. He is a member of the Tiffin Society (formerly known as the President's Club) and he has recently extended his support by becoming a member of the Hazel Franks Society. Hazel Craycraft Franks, TU class of 1941, was a spirited entrepreneur, businesswoman and loyal friend. This society is composed of members who have included TU as a beneficiary in a planned or estate gift. By including the University in his plan, Leigh's gift will create a lasting legacy that will help students achieve their dreams and lead successful lives.

"A degree opens many doors for employment and career advancement in today's world," says Leigh.

However, in an era when the cost of higher education is on the rise, there is a great need for more accessible education. Financial help, such as scholarships, can be life-changing. Planned and estate gifts allow students to continue their education and provide them the opportunity to succeed.

"I included TU in my will to benefit future students. One day, my legacy gift will assist students who qualify for financial aid."

Leigh's planned gift to Tiffin University will be in memory of his beloved parents.

Reflecting on his experience at TU, Leigh smiles with happiness. "I came from a large metropolitan city in Canada to a small college town in Ohio. I met many wonderful people and had a positive learning experience."

Leigh graduated in 1968 with a bachelor of commercial science. He worked for two major car rental companies in Toronto, Canada, as a payroll specialist and pension administrator. Retiring in 2009, Leigh spends his time doing what he loves. He is involved with three senior social organizations, is on the Chancel Guild at his church, researches his genealogy and travels on long road trips through Canada and the U.S.

You, like Leigh, can put a TU education within reach for deserving students through a planned gift. Contact Mitchell P. Blonde, CFRE at 419.448.3584 or blondemp@tiffin.edu to find a gift option that best fits your goals.

A charitable bequest is one or two sentences in your will or living trust that leave to Tiffin University 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 Tiffin University, a nonprofit corporation currently located at 155 Miami Street, Tiffin, Ohio 44883, 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 TU 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 our 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 TU 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 TU 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 TU where you agree to make a gift to TU 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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