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Spirit is published three times per year by the Texas A&M Foundation, which manages major gifts and endowments for the benefit of academic programs, scholarships and student activities at Texas A&M University.

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The Legacy

Six Reasons to "Give it Twice"

Planning a gift through a testamentary charitable remainder unitrust, also known as a “give it twice” trust, has many advantages.

Six Reasons to "Give it Twice"

Planning a gift through a testamentary charitable remainder unitrust, also known as a “give it twice” trust, has many advantages.

Estate planning can be eye-opening when considering the ways you can donate to a cause you’re passionate about while also financially supporting loved ones and taking advantage of tax benefits. Research today means having financial control in the future and realizing the full potential of every asset.

A testamentary charitable remainder unitrust, or “give it twice” trust, is increasing in popularity among Texas A&M Foundation donors because it allows you to leave a legacy while providing for loved ones, making it not only an impactful gift, but also a smart investment. During the Foundation’s 2019 fiscal year, seven “give it twice” trusts were established for a total of nearly $15.5 million.   

Included in your will or living trust, a “give it twice” trust is funded after your lifetime and provides payments to your loved ones for a term of years or their lifetimes. After the designated timeframe, the trust remainder is distributed for the benefit of Texas A&M University, as directed by the donor.

The “give it twice” trust offers six major advantages:

  • Control and access to assets: Since the trust is created and funded after your lifetime, you have complete control and access to your assets during your life.

  • Support for loved ones: You can provide a stream of payments to a surviving spouse, child, relative or other loved ones during the life of the trust.

  • Professional management: Assets are professionally managed in the trust, removing that burden from your loved ones.

  • Flexibility in estate planning: You control the amount given to fund the trust, while retaining the flexibility to distribute other items of your estate as you wish.

  • Favorable tax benefits: There is an estate tax deduction for the charitable gift. Additionally, “give it twice” trusts funded with retirement accounts and other assets containing tax-deferred income are received into the trust without the anticipated taxation.

  • Generously benefits Texas A&M: At the end of the trust term, the remaining assets in the trust are placed in your endowment at the Foundation for the purpose you specify.

Stephen Huzar '93 took advantage of the testamentary charitable remainder unitrust as a way to give to the two things he is most passionate about: family and Texas A&M University.

A Life Story Legacy       

“The ‘give it twice’ trust was a perfect fit for me,” said Stephen Huzar ’93. “I don’t have children, but I do want to leave my sister and niece a safety net during their remaining lifetimes. This gift enables me to do that while also being a good steward of what the Lord has given me.”

While a “give it twice” trust fit financially, this Aggie’s life story is what inspired his gift. When he was 13, Huzar’s father, formerly a rocket scientist for NASA during Project Apollo, declined to failing health. “My mom effectively became a single parent and was very influential to me,” he explained. “When the question of college arose, I scraped up money through summer jobs, while my mom helped me find scholarships and financial aid. Without scholarships and my experiences at Texas A&M, my life would be drastically different.”

Huzar’s involvement in the Corps of Cadets set him on a different trajectory. “The tragic events just prior to college matured me, but I lacked confidence,” he said. “The Corps helped me overcome the past and prepared me to purposefully navigate life for the decades to come. Years later, I realized how much of my success was due to my Corps experiences, so I felt inspired to pave the way for future cadets.”

Since earning his degree, the former student has become a successful CPA and uniquely weaves the Aggie core value of selfless service into his life. “I help lead and travel to Russia for an orphan ministry and, separately, serve on the board of a new church that I am helping establish in Colorado,” Huzar shared. “I also have a love for biblical archaeology, which has compelled me to bring current Aggie cadets with me on annual trips to Israel.”   

Huzar’s gift will provide a payment stream for his sister and niece during their remaining lifetimes and support the charitable causes he is passionate about. At the end of the trust’s life, 90% of the remaining assets will be given to Texas A&M for Corps of Cadets scholarships and other university programs. The trust’s flexibility allows him to easily use the other 10% to support his ministries as well.

Huzar said he wants his legacy to serve the greater good. “As a Christian, I believe earthly ‘stuff’ is meaningless in the long run. When people pass away, the only thing that truly belongs to them is their life story. That’s what I care about—sharing the earthly possessions I’ve been blessed with in the hope that the Lord continues to use them to write similar stories through others.”

If you are interested in creating a “give it twice” trust, contact Angela Throne ’03 below.
Contact:

Angela Throne '03

Business Operations Manager
Office of Gift Planning