A few months ago, I received a survey sent to alumni of the University of Georgia Redcoat Band. If you didn’t already know, I’m a rabid Georgia Bulldog alum through and through. My devotion to the Dawgs started at a very young age, and my four years in the Redcoats during my time at Georgia cemented my love for the Red & Black. Once I graduated, I faithfully attended alumni band at Homecoming in the fall for many years until life became too busy with children. I still keep in close contact with my Redcoat friends and participate in the Redcoat community along with other events aside from Homecoming. I consider the Redcoats an extended family that has stuck with me through the decades.

The survey I received had to do with legacy planning and financially supporting the Redcoat Band. For the majority of the band’s 120 years of existence, the athletic department has financed most of the band’s budget. However, the landscape of college football has changed dramatically recently due to the implementation of NIL (Name, Image, and Likeness). In case you’re not aware of the impact of NIL, colleges can now pay their student athletes. It’s a free for all right now, and it’ll take a while to get things under control – if it ever happens. Athletic departments are cutting where they can to subsidize various revenue streams in an attempt to fund NIL. For the past two years, the size of the Redcoat Band has shrunk due to budget cuts, and so the UGA Redcoat Alumni Band, which formed a nonprofit about 20 years ago, has attempted to take up the slack as best as possible. As such, the UGA Foundation partnered with them to support the band through giving and estate planning. Estate planning involves setting aside a percentage of your estate and donating it to an organization. Continue reading

Legacy Planning and the Future