A person and/or organization that receives benefits from a trust, retirement account, or life insurance policy. Bequest:

A contract under which a gift by a donor is made to a charity, such as Miami University, in exchange for guaranteed payments of a fixed dollar amount (annuity) to the donor for life. The remainder of the money goes to the charitable organization at the donor's death. Charitable Lead Trust:

An irrevocable

Provides for the annual payment of a fixed dollar amount (an annuity) to the noncharitable beneficiary(ies). The annuity amount, once established, cannot change and it must be at least five percent of the initial net fair market value of the property placed in the trust. Additional contributions to an annuity trust after the initial funding are exp [..]

Money from bequests or outright gifts to Miami University that is invested in perpetuity to produce amounts to be distributed according to the endowment spending policy. Distribution of earnings coincides either with the donor's wishes or, if there is no restriction on spending the earnings, at the discretion of the university. Endowment Spend [..]

The total assets of a deceased person. Executor:

Funds that can be spent in their entirety in a manner consistent with the intentions of the donor; funds not deposited in an endowment fund. Fiscal Year:

An IRS form which must be submitted annually by organizations exempt from federal taxes. Miami University Foundation’s most recent form 990 is posted on the Information for Attorneys and Brokers

A trust created for the trustor and administered by another party while the trustor is still alive. A living trust, which can be either revocable or irrevocable, avoids the probate process and therefore allows assets to be distributed significantly more quickly than by a will. In addition, the duration and complexity of the probate process may be r [..]

A non-monetary item of tangible personal property such as art, collectibles, books, equipment, automobiles, and other physical assets which have value to Miami University. Matching gift: