12 DEANS AND DEVELOPMENT Remainder Unit Trust (CRUT), Retained Life Estate, Lead Trust and Deferred Gift Annuity, etc. You don’t need to be an expert in these vehi- cles though it is helpful to know some of the planned giving jargon. Often transformational gifts such as naming a building will include a variety of giving such as current cash, a gift annuity with an annual payout, and a bequest. Sometimes a Planned Giving Office will have an attorney and/or tax accountant on staff. Few of the wills that name some entity or activity in Arts and Sciences as a beneficiary and are written while you are dean will ever be executed while you are in office. Nonetheless, Planned Giving is a crucial ally. Many people who believe they cannot make a major gift will, however, agree to discuss with the University putting a gift in their will. Once a Planned Giving officer engages with them, they can become more informed and excited about what’s going on at the University. A tried and true development strategy is to help a couple or individual write a will benefitting a department or student activity, and then to persuade them to give annually to that beneficiary in order “to begin to see how your funds will make a difference.” People of means often find that they don’t need as much of their income to maintain their lifestyle as they thought, or they find the satisfaction of giving a joy worth paying for. Once the individual or couple receive glowing letters each year from music students or the chemistry depart- ment about the wonderful impact of their annual gift, they frequently decide to give more in order to enjoy the fruits of their philanthropy in their lifetime. Planned Giving officers know, more than anyone, that people give in order to leave a legacy. They are offering prospects a gift just as much as they are soliciting one. How the Planned Giving officer explains the needs of Arts and Sciences is thus crucial to where these donors direct their funds. Almost no one will ever approach a Planned Giving officer with the goal of benefitting Arts and Sciences. (The exception proves the rule. At one of the institutions where I served, the Arts and Sciences dean will someday enjoy a $250,000 bequest, given by an alumnus who became dean of Arts and Sciences at an Ivy League institution and explained to me that the reason he put Arts and Sciences in his will is because, “If I don’t, I know no one else will.”) As with the Annual Fund, the Planned Giving