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Larry and Carol Uebner: Adding More Income to Retirement Years


For Larry Uebner and his wife, Carol, the term ‘investment' can mean many things. "After 28 years working in banking, I learned there are different ways of investing, and different kinds of returns. For example, I consider the donations we make to charities as investments. Our return is witnessing how our gifts make a difference in our community," says Larry.

The Uebners also invest their time by volunteering for several charities, including the Nebraska Humane Society, Omaha Sister Cities Association and Methodist Hospital Foundation. Larry began serving on the Foundation's Board of Directors in 1989, nine years before he retired. Since that time he has served as President and Treasurer. Today Larry lends his financial expertise to the Foundation three days a week.

"After retirement, you're always looking for ways to add to your income. I learned about Charitable Remainder Unitrusts (CRUTs) through my volunteer work at Methodist Hospital Foundation," Larry explained.

Larry and Carol owned residential rental property that was fully depreciated, therefore creating a lower return on investment. To avoid capital gains and to replace the income from the real estate, Larry established a CRUT and achieved important financial goals for his retirement years:

  • Continued cash flow
  • A good federal tax deduction for his contribution
  • Avoidance of capital gains tax • Qualified for the Nebraska State Tax Credit (Endow Nebraska)
  • No more headaches of managing real estate
  • Ability to split the CRUT among charities, including Methodist Hospital Foundation

Larry says, "I believe this kind of trust provides a greater return for the charity and for us, because the payout amount is based on the value of the investments and is re-established every year. Over the long term, the equity market should provide the greatest gain in value over the years. With a charitable gift annuity, the payment is fixed for the rest of your life."

If you are interested in establishing a CRUT, please contact your financial advisor. You may also call Methodist Hospital Foundation at (402) 354-4825 for more information.

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A charitable bequest is one or two sentences in your will or living trust that leave to Methodist Hospital 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 Methodist Hospital Foundation, a nonprofit corporation currently located at 8401 West Dodge Road, Suite 225, Omaha, NE 68114-3447 , 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 Methodist Hospital 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 Methodist Hospital 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 Methodist Hospital 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 Methodist Hospital Foundation where you agree to make a gift to Methodist Hospital 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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