s a young biochemist, Marvin Karasek, PhD, wanted to know if there

was a connection between viruses and skin diseases. After he finished his postdoctoral studies in viral research in Germany, his work came to the attention of Arthur Kornberg, MD, chair of the Stanford Department of Biochemistry and winner of the 1959 Nobel Prize for illuminating how DNA is built. Dr. Kornberg believed that Stanford needed a better program in developmental dermatology and recommended Dr. Karasek to the chairman of the Department of Dermatology, Eugene M. Farber, MD.

“Dr. Farber invited me to become an assistant professor. I accepted and we hit it off immediately,” says Dr. Karasek, now emeritus professor of biochemistry in dermatology.

Advancing Research in Dermatology Through an Estate Plan Estate Gift Will Fund the Marvin A. Karasek Fellowship Fund

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INSIDE • Q&A: Supporting Stanford Medicine Through a Gift in Your Estate Plan• Designate Your Assets for the Future of Stanford Medicine

f you are looking for a way to support Stanford Medicine but wish to maintain control of your assets today, consider designating Stanford University School of Medicine or Stanford Hospital & Clinics as

the beneficiary of your retirement plan assets or insurance policies. While most assets can pass to your intended beneficiaries under the terms of your will or trust, retirement plan assets and life insurance policies require separate beneficiary forms and can be modified at any time to meet your changing needs. Consider these options:

Retirement plan assets make a tax-efficient gift to Stanford Medicine. If your children are the beneficiaries of your retirement plan assets, federal income taxes may erode up to 39.6 percent of the amount they receive from your plan. In contrast, as a nonprofit organization, Stanford is tax-exempt and eligible to receive the full amount and bypass any federal taxes.

Life insurance can be a low-cost way to provide a larger gift to Stanford Medicine. You can name Stanford University School of Medicine or Stanford Hospital & Clinics as beneficiary after your lifetime.

How to Name Stanford as BeneficiaryTo name Stanford University School of Medicine or Stanford Hospital & Clinics beneficiary of these assets, contact your retirement plan administrator or insurance company for a change-of-beneficiary form. Decide what percentage you would like us to receive, and name The Board of Trustees of Leland Stanford Junior University, (tax ID number 94-1156365) for a future gift to the School of Medicine, or Stanford Hospital & Clinics (tax ID number 94-6174066), for a future gift to Stanford Hospital on the beneficiary form. Then return the form to your plan administrator or insurance company. If you would like to designate a specific purpose for our use of this type of gift, please contact the Medical Center Development Office of Planned Giving at pgmed@stanford.edu or 650.723.6560 for assistance.

© The Stelter Company. If you prefer not to receive fundraising requests to support Stanford Hospital & Clinics or the School of Medicine in the future, please let us know by email at pgmed@stanford.edu or in writing to: Medical Center Development, 3172 Porter Drive, Ste. 210, Palo Alto, CA 94304.

PHOTO: Rod Searcey Photography

I

our will or trust provides direction regarding how you

would like your assets to pass after your lifetime. This type of document can help to ensure that the future of your loved ones is protected, while also providing you the opportunity to leave a legacy of support for the future of Stanford Medicine. You can support the future of Stanford and its programs or departments for years to come through a gift in your will or trust.

Q: I want to remember Stanford in my will; how do I accomplish this?

A: The process of including a provision in your will or trust to make a gift to Stanford Medicine is fairly straightforward. You can include a charitable bequest when you create your will or trust or you may add a bequest later with an amendment to your trust or a codicil to your will. With a bequest, you can give away

property, securities, or real estate without worrying about whether you will need those assets, because a bequest of these assets will not take place until after your lifetime.

Q: What are the benefits of making a bequest?

A: Bequests are: • Relatively easy. Adding a

provision in your will or trust completes a gift.

• Revocable. Until your will or trust goes into effect, you are free to alter your plans.

• Versatile. You can bequeath a specific item, an amount of money, or a percentage of your estate.

• Tax-efficient. Your estate is entitled to an unlimited estate tax charitable deduction for

gifts to qualified organizations such as Stanford.

Q: How do I put a bequest in place?

A: Take these three steps: 1. Decide what amount or

percentage you want to give. 2. Contact the Medical Center

Development Office of Planned Giving or return the enclosed survey requesting sample bequest language and take the language to your estate planning attorney to add to your will or trust.

3. Notify us of your intention (we will honor your preferences regarding anonymity) so we can thank you, help to ensure your intentions are followed, and keep you informed of our ongoing advances in medicine.

YQ&A Supporting Stanford Medicine Through a Gift in Your Estate Plan “I became enamored with the

possibilities of making progress in dermatology and establishing the department as a leader in dermatology research. I was hooked.” With very little fundamental or basic science being done in dermatology at the time, bringing a PhD into a clinical department of medical doctors was a rare step. Yet one of the outstanding features of the department was a strong spirit of cooperation. The program became world-famous, known for insightful research by top scientists into the biology of the skin and in particular, the epidemiology and treatment of psoriasis, a devastating skin disease. From Dr. Karasek’s own experience, he understands the roadblocks that a lack of funding can create. Throughout his career, he had to scramble to write proposals for grant funding. He wants to change that scenario, and to see that the work he started years ago will continue. Dr. Karasek has provided for the bulk of his estate to go to Stanford for investigative research in dermatology. His gift will create the Marvin A. Karasek Fellowship

Fund, an endowed fund to support postdoctoral fellowships in the Department of Dermatology. “It gives me great pleasure to know that my gift will continue to contribute to the advancement of science and will last as long as Stanford does. In many cases, there are more projects to do than funds to support them; it’s very satisfying to know the research will continue. If someone discovers a promising line of research to solve a particular problem, another year won’t be wasted in order to secure fellowship funds.” Dr. Karasek believes that understanding the underlying cause of disease requires fundamental research in a laboratory. “It’s the answer—the only way we can do it—and we need to make sure these efforts continue. Who knows what the future will bring?”

If you would like to learn more about including a

gift in your will or trust to benefit a particular program or department at Stanford, please contact the Medical Center Development Office of Planned Giving at 650.723.6560 or pgmed@stanford.edu.

Making a Difference Through a Planned GiftTo speak directly with a member of our staff and learn more about various planned giving options, please contact: Carol Kersten, Erin Phillips, or Blake Grossman, Medical Center Development Office of Planned Giving • pgmed@stanford.edu • 650.723.6560

Advancing Research in Dermatology Through an Estate Plan

PHOTO: Dale Higgins Pictures PHOTO: Francine Freeman

pgmed.stanford.edu/news

A gift of a percentage of your estate, after all other bequests to your loved ones have been fulfilled, ensures that the size of your gift will remain proportionate to the size of your estate, no matter how it fluctuates over the years. Even a gift of 5 to 10 percent of your estate can make a big difference to Stanford.

Continued from page 1

“ It gives me great pleasure to know that my gift will continue to contribute to the advancement of science and will last as long as Stanford does.”

—Marvin Karasek, PhD