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Gift & Estate Planning: Land of Opportunity

Mineral Interests

Oil

In 1923, Santa Rita No. 1 struck oil on university lands, generating a rich source of funding for Texas education. Photo: Courtesy of Dolph Briscoe Center for American History

Did The University of Texas at Austin help expand your horizons, leading you to become the person you are today? You have the power to create the same opportunities and enrich the lives of future Longhorns by donating an asset you may not have considered before — land and minerals.

Long-term Support of Education

Gifts of land and mineral interests are long-term investments in the university's continuing progress and constant improvement. You may never have considered this, but you can create an endowment — or many different endowments — to advance programs that are most meaningful to you.

Maybe you want to help students who struggle to attend college. Maybe you want to help create new hands-on experiences and research opportunities for students. Or maybe you want to help revolutionize how disciplines come together to solve the world's toughest problems.

However you choose to direct your donation, your support enhances UT's excellence and helps us remain one of the most powerful centers of learning, research, and creativity. Who knows? Your gift could be the support needed to make the next world-changing discovery possible.

Engineering Students

Cockrell School of Engineering students benefit from the generosity of alumni and friends.

Stewarding Your Legacy

Like you, the State of Texas recognizes the importance of education and the need to invest in its long-term growth and advancement. University Lands, an organization of the UT System, has been stewarding the largest land and minerals endowment in the country for over 100 years. The employees of University Lands hold the Lone Star State's natural assets near and dear, and today this team of experts oversees holdings not just in Texas but also in 21 additional states and Canada that were entrusted to University Lands by generous donors like you.

From oil and gas royalties to lease payments and grazing fees, the University Lands office is among the nation's most reliable and experienced managers of natural resources. You can feel secure knowing that professionals with several hundred years of combined oil and gas expertise will manage your land or mineral interests responsibly while maximizing their impact for UT-Austin.

Ways to Give Land and Mineral Interests

Let us help you explore the possibilities. These are just some of the resources you might consider putting to work for UT now or in the future through your estate:

  • Oil & Gas
  • Minerals
  • Grazing land
  • Timber

Together, you and University Lands are a mighty combination. Let us work with you to achieve your philanthropic goals and benefit what you love most at your alma mater — now and far into the future.

Tom Whaley

T.W. "Tom" Whaley, PhD '68

The Gift that Keeps on Giving

T.W. "Tom" Whaley, an orphan until age 15, always knew education was the key to his future. Despite a rough start in life, he went on to earn a doctorate in electrical engineering at UT in 1968, and his expertise led to a remarkable career in the CIA. He later returned to his family's farm and developed the land into productive real estate.

Before his death in 2013, Whaley made plans to leave his assets, including more than 700 mineral interests in 10 states, to the school he felt inspired his path to success. Producing mineral income that ranges from six to seven figures annually, this gift instantly grew the Cockrell School of Engineering's scholarship program by more than 25 percent.

With continued management by the University Lands organization, Whaley's legacy is passing the key to education on to future generations of UT students.

Next Steps

  1. Contact the Gift and Estate Planning Team at 512-475-9632 or giftplan@austin.utexas.edu to discuss the possibility of giving land or mineral interests to the University.
  2. Seek the advice of your financial or legal advisor to make sure this gift fits your goals.
  3. If you include the University in your plans, please use our legal name and Federal Tax ID.

Legal Name: Board of Regents of The University of Texas System for the benefit of The University of Texas at Austin
Address: P.O. Box 7458 Austin, TX 78713
Federal Tax ID Number: 30-0710145

eBrochure Request Form

Please provide the following information to view the brochure.

A charitable bequest is one or two sentences in your will or living trust that leave to The University of Texas at Austin 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 University of Texas at Austin, a nonprofit corporation currently located at P.O. Box 7458 Austin, TX 78713 , 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 the university 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 the university 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 the university 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 the university where you agree to make a gift to the university 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.