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Eastern Michigan University Foundation
1349 S Huron St
Ypsilanti MI 48197-7021
THE LEGACY PLANNER
EASTERN MICHIGAN UNIVERSITY FOUNDATION | Spring 2012
Changing Students’ Lives Since Age 17
1349 S. Huron St., Ypsilanti, MI 48197
Leona Berry Extends Her Support for Education
Beyond Her Lifetime
Your Will: Overhaul vs. Update
Because change occurs in our lives all the time, it is important to keep estate
plans up to date. But how do you know which situations simply require
updating your existing will with a codicil and which ones necessitate a
whole new will? Here is a quick look at how to tell the difference.
Leona Berry was born in Kansas in the middle of
World War I and began her career in education
as a grade-school teacher when she was just
17 years old. Her dedication to education
continued through the years as she went on to
receive a teaching certificate, a bachelor’s degree
in library science and a master’s degree in English.
In 1957, Leona came to what was then Eastern
Michigan College as a reference librarian and
spent more than 23 years dedicated to serving
the educational needs of students, faculty and the
Eastern community as a whole. During her final
10 years at EMU, she served as the University archivist.
Visit emufoundation.org/giftplanning to
find the donation option that is right for you.
Let us know that you’d like to be contacted
using the reply card inside this issue.
ontact Susan J. Rink, director of planned
C
giving, at susan.rink@emich.edu or
888.221.2249 to discuss your options or
make a gift.
sharp intellectually
and understood
the importance of
both details and
the ‘big picture.’”
—Margaret Best, EMU
emeritus faculty member
Leona’s years of service to Eastern Michigan University paired with her lifelong
commitment to education will now live on through her generosity. Contact
Susan J. Rink at 888.221.2249 or susan.rink@emich.edu to learn more about
ways you can support future students.
Inside this issue > Q&A: Supporting EMU Through Your Will or Trust
3
2
> Your Will: Overhaul vs. Update
1
• Your executor’s situation has changed. Has the executor, guardian or
trustee named in your will moved or passed away? Update your plans to
reflect these changes.
• You wish to make a charitable bequest. This simply requires including
a few lines in a codicil—a legal instrument made to modify an earlier will.
Contact Susan J. Rink at 888.221.2249 or susan.rink@emich.edu for official
bequest language to share with your attorney.
• You want to make changes to an inheritance. For example, you would
like to change the amount of money you’ll leave to a sibling from $25,000
to $50,000.
With her dedication to and understanding of the
importance of knowledge, it comes as no surprise
that Leona made a generous gift in her estate to
support the Halle Library at Eastern Michigan
University. Her gift will support efforts to enrich
University archives programming, celebrate and
preserve the rich history of EMU, and enhance the
library’s digitization process and capabilities.
“Leona Berry was very
Update Your Existing Will
Here are three simple ways to learn more about making a
difference for years to come:
• Your marital status has changed. You’ll need a new will if your spouse
dies or you get divorced, especially if you’ve left your estate to your former
spouse. If you are remarried, include your new spouse in your will.
• Your children are grown. If you created a will when your children were
young, you’ll likely need an overhaul. If they are old enough and financially
stable, you may no longer need provisions for guardianship or trust funds.
• You move to a different state. Legal requirements of a will vary from state
to state. Consult an attorney in your new state to ensure your will is valid.
Helping an EMU Student
Is as Easy as 1, 2, 3
Draft a New Will
Q&A
Supporting EMU Through
Your Will or Trust
Let Us Know How We Can Help You
Please send me the following FREE guides,
at no obligation:
Securing Your Family’s Future—Ensure that your loved
Q. How does this type of gift work?
A. To make a bequest, you need a current will or revocable living trust. You
can give a percentage of your estate, or you can make a bequest of a certain
amount of cash, securities or property. After your lifetime, EMU will use
your gift to benefit our students and programs.
Your estate planning attorney can help you structure your bequest to
meet your exact financial needs and charitable goals. We are happy to
provide you with sample language to share with your attorney; simply
contact Susan J. Rink at 888.221.2249 or susan.rink@emich.edu today.
Q. Why should I choose this approach?
A. There are two key benefits in setting up a gift through your will:
Q.How can I balance my commitment to family with a
desire to help EMU students?
A.A survey of American residents reveals that the majority welcome the
idea of sharing a piece of their inheritance with a nonprofit.* Of the adults
surveyed, 72 percent feel it’s reasonable to designate 5–10 percent to charity.
Please keep that in mind when you are making your plans for the future.
Even a small percentage can make a significant impact.
1 Y
ou can change your mind at any time. A bequest lets you balance your
generosity with your concerns about living expenses, future medical costs
and loved ones. Because you’re not actually parting with assets today, you
don’t need to worry that you won’t have enough to live on in the future
should you need the assets after all. And you have the option to change
your mind at any time.
2 Y
ou can be flexible in your commitment. Most people do not know
what the exact size of their estate will be; therefore, making a gift to the
Eastern Michigan University Foundation by using a percentage amount
can be a more appropriate way to divide your assets. It allows you to
benefit charitable organizations and loved ones in relative proportion.
Fold in half and tape shut with clear tape. No staples.
ones receive the support you envision after you’re gone.
17 Reasons to Update Your Will—Find out if your plans are
in need of a review.
I want to help:
I’ve included the EMU Foundation in my long-term estate or financial plans
and haven’t previously notified you.
I’m considering including a gift to EMU in my long-term estate or financial
plans. Please contact me to discuss my options.
Thank you for supporting EMU students!
Name—Please print.
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Q. What should I do if I’ve already included EMU in my
estate plans?
A. Let us know by checking the appropriate box on the attached reply card or
contacting us today. We realize that many of you have remembered EMU in
your estate plans and, for many different reasons, have chosen not to reveal
your intentions to us. To this visionary group of friends, we’d like to take this
opportunity to express our sincere gratitude. By notifying us of your intention,
we can ensure that your gift will be used as you intend and we’d love the
opportunity to thank you in person. Of course, we also promise to respect your
wishes to remain anonymous, if you so choose.
*“2009 Stelter Donor Insight Report”
The information in this publication is not intended as legal advice. For legal advice, please consult an attorney. Figures cited in examples
are for hypothetical purposes only and are subject to change. References to estate and income taxes include federal taxes only. State
income/estate taxes or state law may impact your results.
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Visit emufoundation.org/giftplanning
for helpful estate and gift planning tips
that you can put to use today!