Donor Stories

Mary Haskell-Hansen's dedication to the arts and her passion for education were the driving forces behind her decision to establish a charitable remainder trust. One day, the proceeds of the trust will be directed to the existing Ralph and Mary Haskell-Hansen Endowment Fund for the Visual Arts at the University of Northern Iowa.

Mary and her late husband, Ralph, were educators for many years. Ralph, a sculptor and professor at UNI, built their lakefront home, which is adorned with many of his sculptures, in Minnesota. Following Ralph's death, Mary married Bill, and together they enjoyed the home for many years.

"Our original arrangement with the University was through a retained life estate. After giving the University title to the home, we continued to live there and simply maintained it and paid the taxes. This agreement gave us an immediate income tax deduction on the value of the home."

Bill and Mary's later decision to move provided them with another opportunity to benefit students at the University. They terminated their life estate arrangement and allowed the university to sell their home and invest the life interest in a charitable remainder unitrust (CRUT) that provides them with a lifetime income. The greater part of the sale price was used to fund diversity scholarships for art education majors.

"The world would be a much better place if more students were exposed to the arts. The visual arts help foster creativity, exploring, discovering, and inventing-important components in our world."

Through creative estate planning, Mary Haskell-Hansen's gift will do just that.

"By gifting the lake property that I had enjoyed for 47 years, I was able to avoid capital gains tax and ensure a steady income for life while honoring Ralph through helping UNI students."

For more information please select one of the following options:

1. If you would like to view a color presentation of a similar plan, please click one of these buttons.

2. If you have property and would like to see a color illustration with your property value and your ages, then please click here.

3. If you would like to request a printed illustration of a Tax-Free Sale with your payout rate, then click here.

4. You may print a unitrust tri-fold brochure. The Sum of Objectives Realized or The Tax-Free Sale.