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Current Gifts

Outstanding dermatologist Robert J. "Bob" Kaplan of Memphis has made generous gifts to the University of Tennessee through prudent tax planning. Bob wished to support the university's Knoxville and Memphis campuses and decided after careful consideration to use appreciated stocks, which provided him an income tax deduction for their fair market value and avoidance of capital gains tax upon their sale.

Born in New York City and raised in Englewood, New Jersey, Kaplan earned his bachelor's degree in biology from Franklin and Marshall College in Lancaster, Pennsylvania, in 1969. After earning his doctorate in medicine from the UT Health Science Center in 1973, he interned at Geisinger Medical Center in Danville, Pennsylvania. He returned to UT for his residency in dermatology from 1974 to 1977 and was chief resident in 1977.

Dr. Kaplan stayed in Memphis and entered private practice as a dermatologist and is on the staff at both Baptist Memorial and Methodist Hospital in Memphis. He is board certified and in 2004 was recognized as one of the Best Doctors in America. He is a member of the Alpha Omega Alpha Medical School Honor Society and the American Academy of Dermatology. Knowing how important private gifts are to medical breakthroughs and practice, Dr. Kaplan was a volunteer leader during the university's highly successful 21st Century Campaign from 1994 to 1998. He provided funding to establish the Robert J. Kaplan, M.D., Clinical Skills Center, which provides hands-on training to students, doctors, and other health care professionals in a simulated setting.

Not only has Dr. Kaplan led the pack in supporting medical advances, but he is also a strong supporter of UT men's and women's athletics. Dr. Kaplan and his friend, Dr. Rodney Wolf, made gifts to establish the Wolf-Kaplan Hospitality Center in the university's historic Neyland Stadium. The center hosts Volunteer recruits for both men's and women's athletics during pre-game, halftime, and post-game activities and is used for other athletic and university public occasions as well.

Dr. Kaplan has worked his entire life to improve the health and well-being of Tennesseans and the people of the Mid-South region. He has been a leader in every sense of the word.

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A charitable bequest is one or two sentences in your will or living trust that leave to The University Of Tennessee 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, [name], of [city, state, ZIP], give, devise and bequeath to The University Of Tennessee [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 UT 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 gift 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 receive an immediate federal income tax charitable deduction. 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 UT as a lump sum.

You fund this trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. 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 UT 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 UT where you agree to make a gift to UT 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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