Alumna lawyer makes the case for charitable gift annuities

In 2018, Teresa Lai ‘83 retired after a successful 27-year tenure with the Wells Fargo Law Department –– first as a real estate transaction lawyer, then a regulatory lawyer specializing in anti-money laundering. She and her husband, James Stanislaw, a tax lawyer specializing in small businesses and nonprofits, wanted to diversify their portfolio.

The couple stays connected to UC Davis –– where Lai earned her law degree –– as members of the Leadership Giving Society, as well as the Shields Society, for those who make planned gifts benefiting UC Davis.

Lai and Stanislaw made an inquiry to the Planned Giving team at UC Davis about new methods of giving that would both benefit UC Davis and help accomplish their own financial goals.

“The charitable gift annuity was the perfect way for us to give,” Lai said. “It provided us with an immediate tax advantage and a guaranteed future income stream, all while allowing us to follow our passions and provide significant financial support to the critical social causes championed by UCD.”

Charitable gift annuities, or CGAs, provide donors with a fixed income stream for life in exchange for a substantial gift.

“Establishing a planned gift through a CGA really checked a lot of financial boxes for us,” James said.

Each subsequent gift annuity has a higher payout rate, which is dependent on the donor’s age at the time of gift –– older donors earn higher rates. CGAs can also qualify for a variety of tax benefits, including a federal income tax charitable deduction when itemized.

Investing in compassion

One of the areas that this CGA will support is the Immigration Law Clinic at the UC Davis School of Law. The clinic was one of the first of its kind in the United States and has represented people from all over the world, including Africa, Asia, the Caribbean, Central America, Mexico, and Eastern Europe.

Lai is grateful to UC Davis for providing her a solid foundation on which to build her career and is inspired by the work being done by faculty and students at King Hall and felt compelled to give to the Immigration Law Clinic.

“It is really a privilege to be able to provide financial support to the UC Davis School of Law,” Lai said. “Not only are they doing amazing pro-bono work at the Immigration Law Clinic, they are also fighting for immigration reform and other important issues such as climate change. Helping champion basic human rights for all is a way for us to invest our money in a compassionate way.”

Make a gift that gives back

Like Teresa Lai and James Stanislaw, you, too, can make a difference at UC Davis with a gift that pays you income. Contact the Office of Planned Giving at (530) 754-2286 or plannedgiving@ucdavis.edu to learn more.