Skip to Content

Planned Giving

'GW Man' Takes Pride in Supporting Future Students

Jay  BaraffJay Baraff understands two things well: hard work and having a plan.

"My father was a newspaper deliveryman. He was the guy the kids delivering papers worked for," Baraff said. "My father was the hardest working man I knew. My parents did everything they could for me — but I didn't look to them for help with college."

So after graduating high school in 1955, he enlisted in the Army. "The day I enlisted was the last day you could get the Korean GI Bill," he laughed. After three years, he was discharged from the Army and matriculated at GW, where he earned a bachelor's degree in economics.

Baraff had a successful law career and knew that he wanted to pay it forward, which led to his creating a charitable remainder unitrust (CRUT) at GW. A CRUT guarantees income while ensuring the remainder of the trust goes to your chosen designation after your lifetime — giving both you and the charity you support the gift of financial security. He also chose to give to GW through stock gifts and distributions from his IRA.

"People should assess what in their lives has helped them succeed. Is that worth paying forward?" Baraff asked. "GW will have done something for them in their career. Learning to think at GW provides value."

Ironically, for all his hard work and planning, one of the most memorable moments for Baraff came when he won an impromptu speech contest his senior year. After speaking about the university's new president, he finished by exclaiming, "So that those who come after us can say with even more pride, 'I am a GW man!'"

As a dedicated alumnus and planned giving donor, Baraff lives by the words he uttered decades ago. The university is grateful for his support and camaraderie.

You can follow in the footsteps of Jay Baraff and other alumni by including GW in your estate plan. Contact Courtney Tsai, JD, CAP ® at 877-498-7590 or pgiving1@gwu.edu to learn more.

eBrochure Request Form

Please provide the following information to view the brochure.

First name is required
Last Name is required
Please include an '@' in the email address

A charitable bequest is one or two sentences in your will or living trust that leave to the George Washington University 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 give to the George Washington University, a nonprofit corporation currently located at 1922 F Street NW, Washington, DC 20052, or its successor thereto, ______________ [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 GW 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 potential 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 may qualify for a federal income tax charitable deduction when you itemize. 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 GW as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. 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 GW 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 GW where you agree to make a gift to GW 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.

Personal Estate Planning Kit Request Form

Please provide the following information to view the materials for planning your estate.

First name is required
Last Name is required
Please include an '@' in the email address