Gift & Estate Planning

Teaching the Next Generation About Generosity

The Nickols Family
As a little girl, Shelly Nickols-Richardson and her brothers always looked forward to trick-or-treating at Halloween. Unlike most kids their age, however, the Nickols children didn't go door-to-door collecting buckets of candy for themselves. Instead, they collected the sweets for UNICEF children.

"I really enjoyed trick-or-treating for UNICEF," Shelly says. "We were raised with a social conscience—an understanding that the world was bigger than your own backyard, so this was a way for a young person to make a difference in the world."

Shelly's mom, Sharon Nickols, former family and consumer science dean; her dad, Sam, an Episcopalian minister; and the family's church were the catalysts behind the trick-or-treating donation idea, as well as other family philanthropy projects. "We always had our kids involved in things in the community and in our church and we set an example of giving," Sharon says. "We thought they should be involved in giving as early as possible."

Carrying on the Family Tradition
That spirit of giving was something that became instilled in the Nickols children and ultimately encouraged in them a lifetime of giving to others. In fact, like her mother, Shelly has chosen to give back to a college that gave so much to her by documenting in her estate plan a gift to her alma mater, FACS. "My graduate degrees and exceptional mentoring from faculty at UGA made it possible for me to move into my current professional role," says Shelly, who is a professor at Virginia Tech. "My FACS degrees have provided opportunities for financial stability. But most importantly, the knowledge, programs and services that FACS professionals impart and provide are critical to the well-being of individuals, families and communities. This is an absolute for today and for our tomorrows."

Never too Young for an Estate Plan
Shelly and her husband, Dave, established a gift through their family trust that names the College as a beneficiary in their will. The gift will establish an endowed scholarship for a graduate student studying foods and nutrition. "When Dave and I first established our family trust, many of our friends commented that we were too young to deal with that," Shelly says. "We recognized, however, that we were not too young to experience the fortunes and mishaps of life. We decided that it was important to document our wishes for our estate."

Planning a Gift Leads to Greater Benefits
Sharon and Sam chose to honor FACS by documenting in their estate their goal to establish the Sharon and Samuel Nickols Endowed Professorship in FACS. "Financially, I can do more through a planned gift than I can at any given time between now and my death," Sharon says. "Prudent planning for economic security during retirement requires retaining resources for an income stream to meet living expenses. However, I also have goals of gifting some property to our children and leaving a legacy in the College for future faculty and students. With careful planning, all these goals can be achieved."

Being a Role Model for Our Children
Although Sharon realizes Shelly is in charge of her own estate now, Sharon acknowledges the strong influence that parents can have on their children starting at a young age. "Parents are role models for our children, as well as educators and advisors for them," Sharon says. "I am proud that our children are taking steps to leave a legacy that will benefit others."

And that influence continues today with Shelly's children, Rachel and Reese—both of whom trick-or-treat each year for UNICEF.

The Berdanier Family
When FACS professor emeritus Carolyn Berdanier was planning her estate years ago, it just made sense to include the beloved institution where she worked as a scientist in the department of foods and nutrition. "I was a faculty member for quite a while and I felt I reached the peak of my scientific endeavor at the College and I'm rather proud of that," Carolyn says. "It helped me fulfill my life goal so maybe I can help someone else with their life goal."

Although she already provides $1,500 each year to foods and nutrition for a seminar speaker and has established an endowed professorship in the department through an outright gift, Carolyn also decided to leave a portion of her estate to FACS.

Why? "For heaven's sake, why not? You can't take it with you," Carolyn says. "This provides a tax benefit for me and for our children—they won't pay taxes on it as part of our estate. We decided to include our church and the College in our will. At the time I was considering what to do, I saw a need to support the faculty. I wanted to ensure that the forward momentum I had come to Georgia to begin would continue in the future."

Using Life Insurance to Give Back
Not only will Carolyn's spirit of generosity continue through her gift, but also through the gifts and spirit of her daughter, Lynne. A "double dawg" UGA alumna with degrees from FACS and veterinary medicine, Lynne followed in her mother's footsteps by supporting the College and becoming one of our 100 legacies. She is making her planned gift by designating FACS as the beneficiary of a life insurance policy.

"I have had exposure in high school and in college and then at UGA to some really excellent teachers," says Lynne, who recently accepted a position herself as an instructor to nursing students at North Georgia College. "They were wonderful—I can't say enough good things about them. I want to be able to support them and I'm able to do so financially through this life insurance policy."

It was also Lynne's high school—St. Tim in Stevenson, Md., just outside Baltimore—that instilled in her a sense of pride about giving back. "My high school has a school sermon that says, ‘It is required of stewards that they be found faithful.' Our yearbook is even called The Steward," Lynne says. "You have to keep faith with what you think you are required as a steward to support. And, for me, if you had good teachers, you are required to be a faithful steward and support good teaching."

Find Out How Your Family Can Help
Contact Mary L. McCormack at 706-542-8138 or mmccorma@uga.edu to learn how your family can make a difference by planning a gift to University of Georgia.

The information in this Web site is not intended as legal advice. For legal advice, please consult an attorney. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income tax include federal taxes only. Individual state taxes and/or state law may impact your results.