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KSU Foundation

A Much Bigger World

Faculty Relationships Inspire Couple’s Estate Plan

Mel and Marsha Stout

Kansas State University is more than the place where Mel Stout learned about landscape architecture. It's where he met professors who mentored him throughout his long, successful career.

It's the place where he has returned time and again to mentor the next generation. Perhaps most importantly, it's the place he met his wife.

A hometown friend introduced the Paxico, Kansas, farm boy to Marsha at a dormitory social mixer on campus.

"It was all over for me then," he said, laughing.

After their graduation and marriage in 1968, the couple moved to Portland, Oregon, where Mel was a leader in multiple projects like the groundbreaking 40-Mile Loop around the metropolitan area.

The couple always remained supportive of the K-State Department of Landscape Architecture and Regional & Community Planning, where Mel's career began.

"Going to Kansas State made me aware of a much bigger world and that was fantastic," he said.

Mel's commitment grew as he served on the department's professional advisory board, and when planning their estate, the couple included a bequest to create the Mel and Marsha Stout Faculty Fellowship in Landscape Architecture. For Mel, it was a tribute to the fresh-faced group of new professors that meant so much to him in the late 1960s.

"They taught me how to solve problems while being mindful of the land and environment, and how to design for living in a sensitive way with the environment," he said. "There are many facets to landscape architecture, but I wanted to especially promote design as evident in all the things that we do."

Through their estate plan, K-State will now be the place where Mel and Marsha Stout leave their legacy to help sustain the faculty relationships that meant so much to his life and career.

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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.

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