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Planned Giving

Veteran Makes Living and Legacy Gift

Pete Burchett created a scholarship at Missouri Western to show his appreciation for the ROTC program.

Pete Burchett created a scholarship at Missouri Western to show his appreciation for the ROTC program.

Pete Burchett recently joined the Clock Tower Society and also established the Harold "Pete" and Betty Burchett ROTC Scholarship Fund.

Pete, who lives in Dearborn, Missouri, served in the U.S. Army for 20 years. His first tour of duty was Bamberg, Germany, where he met his wife, Betty. He and Betty and their two children traveled all over the world for his military career, spending several years as a heavy weapons instructor at Fort Jackson in South Carolina.

When he retired from the military, Pete returned to the Midwest and farmed in the Faucett, Missouri area for several years. Betty passed away in April 2015.

Pete said he wanted to establish a scholarship for ROTC cadets because he wanted to give back to the military that gave so much to him. With Missouri Western being the host school for the Pony Express Army Senior ROTC Program, the University was the obvious choice.

Pete, who recently remarried, set up the ROTC scholarship in May 2016, and he and his wife, Kathryn, plan to contribute $1,000 each month until it reaches the $10,000 endowment level. The scholarship will support ROTC cadets enrolled in Missouri Western's military science program.

Missouri Western is also listed as a beneficiary in Pete's estate. The Clock Tower Society is an honorary society of donors who have made the MWSU Foundation a beneficiary of their estate and financial planning.

"Missouri Western's students appreciate supporters like Mr. Burchett," say Kim Weddle '00, director of development. "By giving this blended gift, he is able to see the fruits of his gift in his lifetime and is assured his estate gift will guarantee his legacy will live on to help generations of students."

Open Doors of Opportunity
Like Pete Burchett, you can make a gift to support future generations of students at Missouri Western. Contact Kim Weddle at weddle@missouriwestern.edu and 816-271-5648 to learn more.

eBrochure Request Form

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A charitable bequest is one or two sentences in your will or living trust that leave to Missouri Western State University 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 Missouri Western State University, a nonprofit corporation currently located at 4525 Downs Drive, Saint Joseph, Missouri 64507, 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 Missouri Western State University Foundation 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 Missouri Western State University Foundation 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 Missouri Western State University Foundation 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 Missouri Western State University Foundation where you agree to make a gift to Missouri Western State University Foundation 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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