Also In This Issue

The Legacy

Smart Investment

By Ashley Wagner '18

Office of Gift Planning Student Worker
Jane and Jerry Kingsley created a planned gift of investment accounts that will fund Regents' Scholarships and support the Memorial Student Center Wiley Lecture Series after their lifetimes.

Jane and Jerry Kingsley are what you might call “Aggies by relation.” Neither of them attended Texas A&M University—Jerry is a University of Texas graduate while Jane received a degree from Lamar University—but the couple feels a strong connection to Aggieland through their daughters, Marlee ’07 ’14 and Tara ’10.

Encouraged by their Texas A&M experiences, the Kingsleys created a planned gift using some of their investment accounts that will provide opportunities for future Aggies. 

A portion of their gift will establish two Regents’ Scholarships. Intended for deserving first-generation college students, these four-year scholarships are awarded to students whose families have an adjusted gross income of $40,000 or less. The remainder of their gift will advance the Memorial Student Center Wiley Lecture Series, a student-led organization that brings world-renowned speakers to campus to discuss national and foreign policy issues.

Creating a gift using investment accounts is easy, as it only requires naming the Texas A&M Foundation as beneficiary of the account(s) on the investment firm’s transfer-on-death form. After the holder’s lifetime, investment funds are transferred to the Foundation and used to the donor’s specification—whether for a certain program, scholarship or organization. This simple process is revocable, which gives individuals the ability to change their minds.

For the Kingsleys, the option offered an easy way to leave a legacy at Texas A&M without creating financial stress during their lifetimes

Create a Gift Without Writing a Check

Common assets like these can be used to benefit Texas A&M University in the future simply by naming the Texas A&M Foundation as full or partial beneficiary.

Most retirement plan assets are taxed twice. Your assets will take a hard hit from estate taxes, and your beneficiary will also have to pay income taxes. If the Foundation is named beneficiary of your account, your assets will not be taxed. 

Using securities like stocks and bonds, you can establish a charitable gift annuity or charitable remainder trust with the Foundation and receive the benefit of fixed payments for life—despite market fluctuations—along with a charitable tax deduction for your gift. You may also leave securities to benefit Texas A&M through a bequest.

Make the Foundation owner of a new or existing life insurance policy and receive an income tax deduction based on the value of the policy. You may also transfer ownership of an existing policy and make the Foundation beneficiary or partial beneficiary.

Name the Foundation as beneficiary or partial beneficiary of your payable-on-death accounts, such as checking or savings accounts, or your transfer-on-death accounts, such as investments and mutual funds. You can leave a legacy at Texas A&M without any financial burden during your lifetime, and your gift is revocable if you change your mind.

“Regents’ Scholarships help worthy individuals advance themselves without accruing crippling debt and can perhaps help low-income families break the cycle of poverty,” Jerry said. “The Wiley Lecture Series benefits both Texas A&M students and the Bryan-College Station community by exposing residents to influential speakers. Since we moved to Aggieland after retirement, we have enjoyed attending Wiley events and learning from thought-provoking topics.”

The Kingsleys hope their gift will create equal opportunities for incoming students and encourage learning outside of the classroom.

“Our education afforded us many opportunities that our parents did not have,” Jane said, “and each generation should focus on bettering the next generation.”

Jane and Jerry built a life together with their two daughters in Beaumont, Texas. Before retiring, Jerry worked as a computer programmer and Jane pursued a career in public accounting and school finance. 

“Texas A&M gave our daughters a strong education, taught them how to be servant leaders and pushed them to be better people,” Jane said. “Even though Jerry and I didn’t attend Texas A&M, we’re proud to support a university that promotes those values.”