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KSU Foundation

Alumnus uses estate plan to invest in undergraduate research

Brad Chilcoat (left) and his partner, Richard Walker, at Stonehenge.

Brad Chilcoat (left) and his partner, Richard Walker, at Stonehenge.

Through Innovation and Inspiration: The Campaign for Kansas State University, Wildcats worldwide are making a difference by investing in the area of K-State they care about most. For Brad Chilcoat '84, that means supporting undergraduate student research in the Department of History.

A professor once told Chilcoat's class that if they really cared about K-State, they should give back to the university once they were out in the world and successful.

That's why Chilcoat created the Department of History Undergraduate Student Research Award for upperclassmen working on a research project using K-State Libraries resources. He used cash gifts to make an immediate impact and included a bequest in his will to make the fund more permanently sustainable.

"I wanted people to be more cognizant of the resources the library has and to utilize them," Chilcoat said. "I like the fact that supporting undergraduate research ties into the 2025 initiative."

In this era of decreased public funding for education, Chilcoat sees this as his chance to give back. "Many of the tools I use that have helped me be successful in my career are tools I initially learned at K-State, especially the abilities to think critically and write," he said.

Chilcoat says that by establishing this fund, he feels he's contributing to the success of K-State and the students. He encourages others to give to the fund, supporting K-State students and the university.

Use financial and estate planning to invest in your favorite area of K-State and make your mark on the university's Innovation and Inspiration Campaign. Contact the Gift Planning Department at"> or 785-532-6266.

eBrochure Request Form

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A charitable bequest is one or two sentences in your will or living trust that leave to the KSU Foundation 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 the KSU Foundation, a nonprofit corporation currently located at Manhattan, KS, 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 K-State 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 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 K-State 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 K-State 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 K-State where you agree to make a gift to K-State 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

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