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OCTOBER 2022 29 Contact the Virginia Athletics Foundation to learn about the benefits of these gifts: Bequests and Beneficiary Designations | Life Income Gifts | Qualified Charitable Distributions | Gifts of Non-Cash Assets, including Stock and Real Estate PLANNED GIFTS COMBINE YOUR PHILANTHROPIC GOALS WITH SMART FINANCIAL STRATEGIES. virginiaathleticsfoundation.com | 434-982-5555 A promise to tomorrow's athletes Bequests through a will or living trust provide a wonderful way for fans of all ages and circumstances to support future UVA student-athletes—often at a level much greater than imagined. Amounts you leave to the Virginia Athletics Foundation will pass free of estate tax. To make a bequest, your attorney can insert a simple provision in your will or trust—VAF can provide sample language. Over the past year, you likely heard about the NCAA transfer portal and the number of student-athletes who transferred and were immediately eligible. Well, the NCAA recently ad- opted legislation that places additional restrictions on the process. A student-athlete must now enter the transfer portal during specific periods of time (transfer windows) to be eligible for the one-time transfer exception. For fall sports (e.g., football), a student-athlete must enter the portal during a 45-day period after the champi- onship selection for their respective sport (except for the teams in the College Football Play- off championship), or between May 1 through 15. A student-athlete who participates in a winter sport (e.g., swimming) must enter the trans- fer portal during a 60 consecutive-day period beginning the day after championship selec- tions are made in their respective sport. For spring sports (e.g., baseball), a student-athlete must enter the transfer portal between December 1 and 15, or a 45 consecutive-day period beginning the day after championship selections are made in their respective sport. Previously, a student-athlete could enter the transfer portal at any time. This caused sig- nificant administrative burden and other issues for coaches, administrators and student- athletes. The new rules are meant to ease some of these issues. If you have any questions about this topic, please call the compliance office at (434) 982-5018, or send an email to athleticscompliance@virginia.edu. TRANSFER PORTAL PROCESS CHANGES COMPLIANCE CORNER