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Hertzer's Estate Gift Creates Lasting Legacy

William F. Hertzer

William (Bill) F. Hertzer has supported TU in many ways over the years.

Tiffin University has been a lifelong interest of William (Bill) F. Hertzer since the 1950s. He is a TU alumnus, trustee and longtime member of TU's President's Club.

Bill is also a well-known donor to the university. His generous gifts created the Hertzer Technology Center in 2004 and the newly named William F. Hertzer Department of Accounting and Finance in 2018. As a final way to give back, Bill named Tiffin University as a beneficiary in his estate plan.

"Tiffin University has always offered incredible value," Bill says. "I enjoyed my association with the university very much and am pleased to carry on my family's legacy by continuing my support to the university."

His contributions are a living memorial, perpetuating the Hertzer name and signifying a permanent commitment to quality higher education. The Hertzer name will leave a legacy that will endure for generations. "I'm almost 84 and want to continue doing as much as I can to embrace Tiffin University and watch it grow."

Bill's planned gift will create a permanent endowment designed to provide continued support for the Hertzer Technology Center.

Bill served in the U.S. Army from 1958–59. He earned a Bachelor of Science Degree in Business from TU in 1960 and served as an accountant, internal auditor and inventory control manager for National Machinery Company for 36 years. In 2004, Bill and his late wife, Jean Grady Hertzer (TU Class of 1956), dedicated the Hertzer Technology Center in memory of their son, William Jr. Later, Bill added carillon bells located inside of the center's clock tower in memory of Jean.

To learn more about ways you can extend your support of Tiffin University, please contact Mitchell P. Blonde, CFRE at blondemp@tiffin.edu or 419.448.3584.

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

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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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