WHAT IS THE BAYLOR LAW LEGACY CHALLENGE?
Baylor University School of Law has allocated $500,000 for a matching pool to encourage alumni and friends to consider supporting Baylor Law through a planned gift. Alumni, faculty, staff, and friends of the Law School can designate a 10% cash match (up to $25,000) for immediate use if they document a new planned gift of $100,000 or more to support the Law School.
WHAT TYPES OF PLANNED GIFTS QUALIFY FOR THE BAYLOR LAW LEGACY CHALLENGE?
Planned gifts that are eligible for matching funds include bequests via a will or living trust, beneficiary designations from a retirement account or bank account, charitable gift annuities, charitable remainder trusts, charitable lead trusts, and beneficiary designations of a life insurance policy given to the Law School.
HOW DOES THE MATCH WORK?
WHERE CAN I DESIGNATE MY MATCHING FUNDS?
You can designate your matching funds to support the priorities identified by Dean Brad Toben, including the Student Summer Stipend Program; the 19th Amendment & Beyond Fund for Diversity, Equity & Inclusion Initiatives; the Trial Advocacy Program; the Business & Transactional Law Program; or the Pro Bono & Public Service Program. You also can choose to designate your match for immediate use to your favorite existing fund at the Law School.
HOW MUCH OF MY GIFT WILL BE MATCHED?
Matches are first-come, first-served and will equal 10% of your planned gift, up to $25,000, until the $500,000 match pool is fully utilized. For example:
- $100,000 will be matched at $10,000.
- $200,000 will be matched at $20,000.
- Gifts of more than $250,000 will receive $25,000 in matching funds.
WHY IS IT IMPORTANT TO DOCUMENT MY PLANNED GIFT?
Gift documentation is vital for a number of reasons.
- To ensure that Baylor Law School stewards your giving according to your wishes. Documenting now allows you and the Law School to clarify your intentions and ensure the implementation of them to the fullest extent possible.
- Knowing your intent to make a planned gift allows the University to provide you with any updates or changes that may bear upon those plans.
- Your gift can motivate others to give, creating a multiplier effect that benefits Baylor Law’s future students, faculty, and programs. Planned gifts are a vital source of funding, and participation inspires participation.
- To honor you. Documenting your gift enrolls you in the Old Main Society — a family of more than 2,000 generous Baylor alumni and friends who have been honored with membership because they have documented a planned gift to Baylor University. Members receive special opportunities and recognition through the society.
WHAT IF I DOCUMENT BUT THEN I CHANGE MY MIND OR MY CIRCUMSTANCES CHANGE?
Documenting your gift does not create a legally binding contract. We know that priorities and circumstances can change. So, while we hope you will continue to support Baylor Law, we know that what you intend to do now may change in the future. If this is the case, you can make the needed updates and let us know.
IF I HAVE ALREADY DOCUMENTED A PLANNED GIFT WITH BAYLOR LAW, WILL IT QUALIFY FOR THE BAYLOR LAW LEGACY CHALLENGE?
First, thank you for supporting Baylor Law and documenting your planned gift! We are truly grateful. While previously documented gifts do not count toward the Baylor Law Legacy Challenge, you may choose to increase the amount of your planned gift to take part — that increase will count as long as it is at least $100,000.