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Passing It on: A Legacy to FSU

Marc and Carol Gill

Marc and Carol Gill

For Carol Gill, Florida State opened up a world of possibilities.

“Growing up, I didn’t know anyone who went to college,” says Carol, 67, of San Antonio, Texas. “I was the first in my direct line to go.”

After completing her undergraduate education in earth sciences and geology at the University of Tulsa, Carol came to Tallahassee for her master’s degree in library science.

“FSU was a good school with good faculty, including an advisor who helped me get started on my career,” she says.

Carol became a science librarian, working for employers that included petroleum companies and universities all over the country.

Now, she and her husband, Marc, want others to have opportunities as well.

“We wanted to make sure that graduate students in our areas of interest have money to go to school,” says Marc, 70, who earned a Ph.D. in environmental engineering at Purdue University.

Because STEM (science, technology, engineering and math) fields are important to them, the Gills set up annual and estate gifts to FSU that will eventually help provide scholarships for students in library studies and earth, ocean and atmospheric sciences.

The couple’s generosity will also allow FSU’s libraries to have science literature available for student use, including online journals and databases, as well as assist students in attending professional conferences.

“I went to conferences when I was a student, and it was really helpful,” says Marc, who enjoyed a successful career as an environmental consultant.

“Things certainly worked out well for both of us,” Carol says.

With the Gills’ gift, no doubt things will work out well for today’s—and tomorrow’s—students, too.

What Matters to You?

Your future gift to FSU can support any academic endeavor across campus, including scholarships, faculty support or research. Contact the Office of Gift Planning at (850) 644-0753 or giftplanning@foundation.fsu.edu to learn about the variety of ways that you can make a gift.

A charitable bequest is one or two sentences in your will or living trust that leave to Florida State 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 Florida State University, a nonprofit corporation currently located at Tallahassee, Florida, 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 FSU 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 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 gift 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 receive an immediate federal income tax charitable deduction. 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 FSU Foundation as a lump sum.

You fund this trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. 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 FSU 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 FSU Foundation where you agree to make a gift to the FSU 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.

Personal Estate Planning Kit Request Form

Please provide the following information to view the materials for planning your estate.

eBrochure Request Form

Please provide the following information to view the brochure.