PlannedGiving for the Next Generation of Lawyer-Leaders
A LEGACY AND PLANNED GIVING NEWSLETTER FOR THE UNIVERSITY OF MINNESOTA LAW SCHOOL
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FEBRUARY 2022
Increasing Access to Legal Education Through Planned Giving “I couldn’t have afforded to go to law school without a scholarship.” In some respects, Richard Luis ’74 and Juanita Bolland Luis ’77—who go by Rick and Nita—had very different experiences in law school than today’s students. The military draft interrupted Rick’s studies after his first year, for example, and Nita’s graduating class was one of the first to have more than a handful of women.
Juanita Bolland Luis ’77 and Richard Luis ’74
But one thing was as true then as it is today: the opportunity to pursue an education in law could depend entirely on financial support. “I couldn’t have afforded to go to law school without a scholarship,” Nita says. “We’ve mentored a few people over the years and have known those who wanted to go but couldn’t if they didn’t have financial support.” Rick and Nita, who live in Little Canada, a Twin Cities suburb, have provided annual support to Minnesota Law for more than 30 years. The impact of their giving will extend well into the future, thanks to a recent planned gift that will establish the Honorable Richard & Juanita Bolland Luis Scholarship to help students afford the cost of an education in law. Before his retirement, Rick spent most of his career as an administrative law judge for Minnesota. He tried about 6,000 cases spanning 85 of Minnesota’s 87 counties on
AT MINNESOTA LAW, we have a proud tradition of producing some of the nation’s most successful lawyerleaders, who work at the vital center of law, business, nonprofit, and government decision-making. We support groundbreaking scholarship of our world-class and innovate new ways to advance the legal profession and engage with our community. Through scholarships, we ease the burden of debt on students who are preparing to face the challenges of a rapidly evolving world. Through faculty support, we nurture new ideas and theories that help develop and shape law. Through innovative programs and events, we elevate and lead in public engagement and intellectual discourse. We are tremendously grateful for the many alumni and friends who support Minnesota Law. By considering a planned gift for the Law School, you will ensure our proud legacy and transformative education continues far into the future. Sincerely,
Garry W. Jenkins Dean and William S. Pattee Professor of Law
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Rick and Nita Continued from page 1
“We firmly believe in sharing our time, talent, and treasure with causes we support.”
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Planned Giving for Future Generations of Lawyer-Leaders Planned gifts are as varied as the lawyer-leaders who make them. By partnering with Minnesota Law, along with your family and trusted advisors, you can create a plan that reflects your charitable goals, maximizes potential
subjects ranging from public utility rates to professional licensing. He was proud to officiate at some of the first lesbian marriages in Minnesota. “I had a fairly satisfying and successful career as a trial judge that I owe to my education at the law school,” Rick says. Nita served as in-house counsel for the St. Paul Companies (now part of Travelers) and then UnitedHealth Group, where she worked for nearly 18 years. She also works on several publications for the American Bar Association (ABA). In retirement, Rick and Nita have been active in the ABA and with their alma maters. Rick has served several times as a moot court judge, and Nita is currently on the Law School’s Board of Advisors. They remain closely connected to their friends from law school and love to travel, having visited all 50 states and more than 100 countries. In addition to their support of Minnesota Law, the couple has endowed scholarship funds at the University of Minnesota College of Liberal Arts (where Nita earned her bachelor’s degree) and Yale University (where Rick earned his). “We firmly believe in sharing our time, talent, and treasure with causes we support,” Nita says. “Most of our favorite causes are related to education.”
tax benefits, provides financial security for you and your loved ones, and creates a lasting legacy for you that will help the Law School remain a leader worldwide. Many alumni and friends of the Law School have found it easy, gratifying, and tax-advantaged to name Minnesota Law as a beneficiary of their retirement account. As with any gift to the Law School, you may direct your gift to benefit any number of funds or initiatives that benefit our mission of educating the next generation of world-class lawyer-leaders.
The many benefits of designating the Law School as a beneficiary of your retirement account include: • If transferred to heirs, assets in tax-deferred retirement accounts (401(k), 403(b), IRA, etc.) are subject to income tax and possibly estate tax. If left to the Law School, these assets will pass free of tax. For this reason, you may want to consider leaving these assets to the Law School and providing for your heirs using assets that are not subject to income tax. • You can designate the Law School to receive a percentage or all of the remaining assets in the account. • You maintain control over these assets during your lifetime and can change the beneficiaries at any time. To make an estate gift using retirement assets, simply designate the University of Minnesota Law School as a beneficiary of your account by contacting your plan administrator and requesting the appropriate forms. If you’ve already named the Law School as a beneficiary of your retirement account, we thank you! We encourage you to tell us about your future gift so we may ensure it will be used to support the initiatives and funds of your choosing. Any information you provide about your gift will be kept confidential.
To learn more about planned giving and ways you can achieve your philanthropic goals, contact David L. Jensen, Director of Advancement, at dljensen@umn.edu or (612) 625-2060. To give today, visit law.umn.edu/give/planned-giving
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Gift to Create Future Support for Outstanding Business Law Faculty “It feels good to be leaving a legacy after I’m gone that will support a faculty position in an area that was important to me.”
Tim Dordell ’87
From an early age, Tim Dordell ’87 developed a deep respect for good teachers. His mother was a public elementary school teacher; his father was the first on his side of the family to go to college and later attended law school and had a successful career at a firm in St. Paul. “I come from a family that focused on education,” Dordell says. “My parents spoke to me about the importance of respect for teachers. As a student, I went on to have many wonderful teachers, mentors, and professors.” Recently, Dordell demonstrated his respect and appreciation for teachers by making a planned gift to Minnesota Law. The gift will establish the Timothy P. Dordell Chair in Business Law, a position that will help recruit and retain outstanding faculty members to teach future generations of lawyers. Dordell spent his career in corporate law, primarily at Twin Cities–based Ecolab and the Toro Company, where he found
more excitement on the business side of operations than in courtrooms. Before his retirement in 2020, he served as vice president, secretary, and general counsel at Toro, where he helped the company find fast and cost-effective alternatives to litigation around product liability claims. If customers were injured using landscaping equipment, the company would connect with them, learn what happened, and work to resolve the situation by offering, for example, to help with medical costs. “That program was highly successful,” Dordell says. “We would make lifelong customers because people would come away saying, ‘I got treated like a human being, and they resolved my claim quickly.’” Dordell, who now spends half the year in Minnesota and half in California, sees his support for Minnesota Law faculty as a way of giving back for the education he received as a law student and the professors and mentors who helped him succeed. While many gifts focus on financial support for students, he believes his longstanding appreciation for teachers makes sense not just for this planned gift, but for his annual giving
as well. He finds giving a meaningful way to express his gratitude and remain connected with the Law School. “I’ve been really fortunate; I was the beneficiary of a wonderful education that provided a satisfying career,” he says. “It feels good to be leaving a legacy after I’m gone that will support a faculty position in an area that was important to me.”
Appreciated Stock Gift Tips: Value for You and for Minnesota Law A gift of stock may provide added value to donors and helpful, timely support for the Law School. By donating stock that has appreciated for more than a year, you qualify for a tax deduction for the fair market value of the appreciated stock and entirely avoid any capital gains tax on the appreciation. In order to avoid the capital gains tax on a gift of appreciated stock, however, the stock must be transferred directly to the University. By doing so, you are actually giving 20 percent more than if you sold the stock and then make a gift of cash.
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I will always be extremely
Join the 1888 Society with a Legacy Gift
grateful to the Law School and
The 1888 Society celebrates the founding of the University of Minnesota Law School in 1888 and the future of the Law School made possible by the generous individuals who have created a lasting legacy by including the Law School in their estate or financial plans. The Law School will recognize your planned gift through enrollment in our 1888 Society, the University of Minnesota’s Heritage Society, and recognition at the Law School and in various published materials.
the citizens of Minnesota who, through their support and generosity, contributed to what I have been able to achieve professionally. I established an endowment at the Law School to ensure that other women of color will
For further information on planned giving, contact: David L. Jensen Director of Advancement University of Minnesota Law School dljensen@umn.edu or (612) 625-2060
have the same opportunity. —WANDA YOUNG WILSON ’79 Former General Counsel and Chief Operating Officer, Tennessee Education Lottery Corporation Murphy Society, William B. Lockhart Club and 1888 Society
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This publication is prepared exclusively for the information of the University of Minnesota Law School’s alumni, parents, and friends. Its purpose is to highlight current developments that may be helpful in your financial and philanthropic planning. With wise planning, you may be in a better position to support the Law School’s mission of training the next generation of lawyer-leaders. The information herein is based on current federal tax laws and regulations. You should always consult your own attorney or tax adviser as to the applicability of your own situation. © 2022 Regents of the University of Minnesota. All rights reserved.