“Because of the quality of education at

Northwestern, we were ready to go out

into the world,” says Chris, who stays

connected to the University as chair of

the Mary and Leigh Block Museum of Art

Board of Advisors.

It was the Robbs’ fondness for

Northwestern and the Evanston area

that drew the family back to the North

Shore after Bill, an orthopedic surgeon,

completed his medical training in the

Continued on Page 3

College SweetheartS honor BloCk MuSeuM

NORTHWESTERN MATTERS

A Guide to Charitable Estate and Gift Planning | Spring 2015

INSIDE THIS ISSUE

even 1 Percent Matters

Do More with Your retirement account

“we wil l” Campaignupdate

Chris and Bill Robb’s love of art can be traced

back to 1966, when together they took a

contemporary art course as seniors in the

College of Arts and Sciences. As newlyweds,

two years later, they began collecting art, a

lifelong hobby.

For Chris, a political science major at

Northwestern, the hobby evolved into a

career. Now a successful interior designer,

she fondly remembers the many art courses—

and an interior design course—that helped

determine her ultimate career path.

“ Bill and I are confident that the museum will

use our gift in a meaningful way to enhance the

student experience and support the Block Museum’s

emphasis on interdisciplinary learning.”—Chris Robb ‘66, Chair of the Mary and Leigh Block Museum of Art Board of Advisors

Bill and Chris robb funded a gift to the Mary and Leigh Block Museum of Art with retirement plan assets.

Christine ’66 and william robb III ’66 ensure future support for art programs through retirement plan assets

Many alumni and friends of Northwestern University would

like to leave a legacy but are unsure about next steps. We

have good news: with a quick update to your estate plans,

you can leave a legacy that will impact future generations of

Wildcats as well as provide for loved ones.

One of the simplest and most reasonable ways to craft

your legacy is by directing a percentage of your estate to

support the University. Including a gift of a percentage

of your estate, or a percentage of your residual estate,

ensures that your donation will remain proportionate to

your estate size, no matter how it fluctuates over the years.

Make Your GiftThe following are popular ways to leave a percentage of

your estate to Northwestern University:

•Includeagiftinyourwillorrevocablelivingtrust. By putting aside a percentage of the assets in your will

or trust—from 1 to 100 percent—you can leave a legacy

while making sure your family has the financial security they

may need in the future. Contact the Office of Gift Planning

for official language that can be added to your will.

•Nameusaspartialbeneficiaryofyourretirement

plan assets or life insurance. By dividing up your

assets in percentages, you can benefit loved ones and

Northwestern. To make this type of gift, simply contact

the administrator of your retirement account or insurance

company for a change-of-beneficiary form. See the article

on the next page for ideas on how to maximize your

retirement plan assets later in life.

Change Your Mind at Any TimeWe understand that circumstances change and that you may one day no longer wish to make a gift of a percentage of your estate. Your family and friends come first, and that’s why this type of gift works for so many of our supporters—you can change your mind at any time.

Make a Big Difference by Donating a Small Percentage of Your estate

even 1 PerCent MatterS

Page 2

We are here to help answer any questions about extending your impact into the future. Please

feel free to contact the Office of Gift Planning at 800-826-6709.

Let Us KnowIf you have already included a gift to Northwestern in your

estate plans, please notify us by returning the enclosed

reply card. That way we can ensure that your gift will be

used exactly as you intend. Plus, it would be our honor to

thank you for your gift.

If you started saving early and worked into your 60s or even

70s, your retirement accounts are probably some of your largest

assets. These kinds of accounts can provide a source of income in

retirement. If you intend to pass these accounts down to your heirs,

note that any funds that are remaining will be heavily taxed.

You can sidestep some of those taxes by naming a quality

educational organization, like Northwestern, as a beneficiary and

leaving other lesser-taxed assets for your heirs. Here’s how it works.

Tax Talk Retirement plan assets are subject to significant estate and income

taxes when given to family. If your state enforces both estate and

income taxes, your combined marginal rate could rise to as high as

65 percent.

One easy and charitable solution is to name Northwestern

University as the beneficiary of your IRA or other retirement

accounts. As a nonprofit organization, we do not have to pay

income or estate taxes on the assets.

Use the chart below to plan how to better distribute your

retirement assets.

Consider Making a tax-Smart Switch to Support our wildcats

Do More wIth Your retIreMent aCCount

College SweetheartS honor BloCk MuSeuMContinued from Page 1

1970s. Their son John ’93, ’94 met his wife Katrin

’92, ’96 JD while studying at Northwestern,

following his parents’ lead.

As alumni committed to supporting arts

education and the undergraduate experience,

the Robbs chose to support the Mary and

Leigh Block Museum of Art by designating the

museum as the beneficiary of an individual

retirement account (IRA). This type of gift allowed

Chris and Bill to use their IRA to make a gift to

Northwestern now while maintaining control over

this asset throughout their lifetime.

“Bill and I are confident that the museum will

use our gift in a meaningful way to enhance

the student experience and support the

Block Museum’s emphasis on interdisciplinary

learning,” Chris says.

If you would like to support a specific school

or program with a retirement account, please

contact the Office of Gift Planning at

800-826-6709 so that our gift specialists

can help you take the first steps.

You can arrange to fully transfer your IRA assets to your spouse and defer any taxes until after his/her death. Any distributions taken by your spouse are taxable.

You can leave your IRA assets to an individual. The funds will be subject to income taxes at the federal level, which could deplete a significant percentage of their value.

You can designate Northwestern as the beneficiary of your IRA assets. The full value of those funds will then be used to support the University. (Income taxes will not deplete their value.)

You can use your IRA assets to fund a charitable remainder trust upon your death. The trust can be set up to make payments to your heirs for their lifetimes or for a fixed period of time, after which the trust balance will transfer to Northwestern.

If you are married …

1

If you are not married …

2

If you want to make a charitable gift …

3

If you want to provide for loved ones and make a charitable gift …

4

4 WAYs TO DISTRIBUTE YOUR IRA OR OTHER RETIREMENT ASSETS

How IT workS

Office of Gift Planning1201 Davis StreetEvanston, Illinois 60208

800-826-6709giftplanning@northwestern.edu

wewill.northwestern.edu/giftplanning © The Stelter Company | The information in this publication is not intended as legal or tax advice. For such advice, please consult an attorney or tax adviser. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results.

Many estate gifts can be used to support the University as part of we will. The Campaign for Northwestern. Discover how you can help Northwestern address society’s critical challenges and prepare the global leaders of tomorrow at wewill.northwestern.edu.

In addition to providing the opportunity to make a larger impact than might otherwise be possible, a planned gift may provide you with added tax benefits or a lifetime stream of income.

Return the enclosed reply card or call us at 800-826-6709 to learn more.

Page 4

we will. The Campaign for Northwestern was publicly launched in 2014 with

the goal of bringing the University community together to solve society’s most

critical challenges. Here’s a snapshot of where we are right now:

A gift of more than $100 million was donated by alumna Roberta Buffett Elliott

’54. Her gift, the largest single gift in University history, helped the Campaign

surpass the $2 billion mark. Mrs. Elliott’s gift will create the Roberta Buffett

Institute for Global Studies, a multidisciplinary institute that will work toward

advancing important global issues. In total, Mrs. Elliott has contributed $110

million to the “We Will” Campaign. She joins the ranks of approximately

100,000 unique Campaign donors helping to propel Northwestern forward.

“we wIll” CaMPaIgn uPDate

$3.75 BILLIONGOAL

$2.08 BILLIONAS OF 2/28/15

TOTAL DOLLARS

CAMPAIGN DOLLAR GOAL BY SCHOOL$1.75 B Northwestern Medicine

$350 M Kellogg School of Management

$250 M Weinberg College of Arts and Sciences

$200 M McCormick School of Engineering and Applied Science

$60 M Medill School of Journalism, Media, Integrated Marketing Communications

$60 M School of Communication

$150 M School of Law

$55 M Bienen School of Music

$40 M School of Education and Social Policy

$6 M The Graduate School

$3 M School of Continuing Studies

99,978 AS OF 2/28/15 141,000

GOAL

NUMBER OF DONORS