Some Inspiring Examples
"William & Mary opened my eyes, enriched
my mind, and set my life on a rewarding and
successful course. I hope my scholarship will
give others the opportunity I had."
Donald Sweig spends a lot of time in some beautiful places. An avid birder and nature photographer for many years, he's had more time to indulge his passions since retiring in 2002.
While gazing through the camera lens, Donald started looking back on his life and how William & Mary helped shape it. As he began to consider his estate plans, he wanted to help future generations benefit from scholarships just as he did. With assistance from the Gift Planning Office, Donald included a bequest in his will to support graduate students in history.
"I owe a lot to William & Mary", says Donald. "It's an integral part of my life story."
"This was just the right time in our lives.
We really feel good about this."
Rik and Carrie Hanley seem to make all the right moves. With two careers that allow them the flexibility to live wherever they choose, they chose to make their home in Williamsburg a few years ago. Rik has many good memories from his student days and now he and Carrie are creating new ones as they discover all that the Williamsburg community has to offer.
Though the couple moved quickly to engage with William & Mary from the time they first arrived, "it was actually our financial advisor Rick Overy '88 who first suggested we consider the College in our estate plans", explains Rik. "He's an alumnus too, so naturally the conversation turned to William & Mary." With assistance from the Gift Planning Office, the Hanleys made a provision in their living trust that will establish permanent endowments to support scholarships and the Muscarelle Museum.
Now that's a good move for Rik, Carrie, and future generations.
"Naming William and Mary beneficiary of my IRA
was an easy way to accomplish my plans. The Gift
Planning staff helped me every step of the way."
From the moment Mike Smith first stepped on campus for summer band camp as a high school student, he knew he was destined to make music at William & Mary. Naturally, Mike continued with band throughout college, assisting legendary Band Director Charles Varner with the summer band camps where he earned the nickname "Captain Clarinet". He's maintained a lifelong connection through the Alumni Band, joining his former bandmates and others to perform at Homecoming halftime shows.
When Mike began to consider his estate plans, he wanted to commemorate the wonderful experience he had in the William & Mary Band and to help preserve and strengthen this experience for those who will follow. So Mike contacted the Gift Planning Office for proper language for his IRA beneficiary form. His bequest will establish a permanent endowment to help ensure that for future generations of William & Mary students, alumni, friends, and fans, the band will indeed play on.
"This was the right plan for us in so many ways. And we're looking forward to seeing the impact of our gift in a few years."
As a chemist, David Kranbuehl knows the importance of choosing the right formula to achieve the best results. When David's retirement approached, he and Marjolane were interested in a charitable plan that would enhance their income while providing a future gift to William & Mary where David taught in the chemistry department for more than 40 years.
Working with the Gift Planning Office, the Kranbuehls established a charitable remainder trust that pays income to them for 10 years, then distributes the remaining assets to William & Mary. In choosing the term of years option for their trust payments, the couple received a larger income tax deduction which saved income taxes. And since they funded the trust with appreciated securities, they also saved capital gains tax. They can also add to their trust at any time to increase the value which in turn will increase the amount of income they receive.
When the trust ends, the proceeds will be used to establish permanent endowments in support of the modern languages and chemistry departments.
Now that's a good formula for good planning.
"The charitable gift annuity was just the right plan at just the right time in my life. I couldn’t be more pleased with my decision."
Throughout her life, Sally Lichtenstein has often consulted her older brother, Pete Siegenthaler ’61 on many important decisions. “One of the earliest examples of Pete’s good advice was to attend William & Mary, which I did, a couple of years behind him”, notes Sally.
So when Sally began to consider her charitable plans, naturally she talked them over with Pete. After considering a number of options, “we kept coming back to a William & Mary Gift Annuity,” she says. In exchange for her gift, Sally receives fixed annual payments for life which will never vary and are backed by the full faith and credit of the College of William & Mary Foundation. Sally also saved income taxes and capital gains taxes. Best of all, the future proceeds from Sally’s gift annuity will be used to establish a permanent scholarship endowment.
We couldn’t pull Pete in the picture but he’s smiling just off camera. And waiting to go out and celebrate Sally’s good charitable planning.
"The friends I made, the experiences I had, and the
knowledge I gained were the pivots of my life. I hope
my scholarship will enrich the lives of future generations
in the same ways."
Though it has been more than 50 years since Joe Ponic left William & Mary, he has always remembered the time he spent in Williamsburg as a defining period in his life. When Joe began to consider his estate plans, he wanted to commemorate his special ties in a way that would impact generations to follow.
With assistance from the Gift Planning Office, Joe made a provision in his will to establish a scholarship to support undergraduate research. The Joseph J. Ponic Scholarship will help students pursue research in Europe focusing on European Medieval, Renaissance or Baroque art, architecture and art history. Not surprisingly, these have all been lifelong interests of Joe's since his earliest days at the College.
It looks like Joe found just the right way to commemorate his special ties to William & Mary.
"We're delighted to help the School of Education
grow today, tomorrow and in the future."
Ken and Judi Lownes have always shared a passion for helping to beautify the world around them. When Ken sold his landscaping business, the couple moved to Williamsburg and both soon became involved with the School of Education. This led to Ken's generous offer to help beautify the School's new facility with a variety of attractive indoor plants which he faithfully maintains on a weekly schedule (yes, those are a few of his selections in the photo awaiting their new home any day now).
When Ken and Judi began to consider their estate plans, they wanted to help the School of Education continue to grow in the future. With assistance from the Gift Planning Office, they made a provision to establish a permanent endowment for the perpetual support of the School of Education.
With their estate plans in good order, it looks like things are "growing well" for Ken, Judi, and William & Mary's School of Education.
"It's wonderful to see students benefiting from our
endowment today … and to know that even more
will benefit in the future."
Bruce Holbrook has never been shy about encouraging his William and Mary clients to consider the College in their charitable planning. And like every good accountant, he will undoubtedly point out the tax benefits. But give him a minute more and he'll tell you how much he and Suzie have enjoyed seeing students benefit from the Holbrook Family Endowment they established several years ago in the Mason School of Business.
So naturally when the couple began to consider their estate plans, they wanted to help their endowment grow even more in the future. They contacted the Gift Planning Office for proper bequest language, then put their plans in place.
Now Bruce says he has something else to talk with his clients about.
"Giving our rental property was an
enjoyable experience from start to finish."
When Jim and Babs Korman decided to contribute one of their rental properties to William & Mary, they were pleased with how well everything came together. The Gift Planning Office helped guide them through the process every step of the way. The College's Real Estate Foundation handled all the details of listing and selling the property.
This left Jim and Babs with more time to focus on the most important detail of all: benefiting William & Mary. After considering a number of options, the couple decided to designate the sale proceeds for need-based scholarships. "We can't imagine a better use for our condo than helping students attend William & Mary," the Kormans agree. Jim says giving their condo was as much fun as he and Babs had in college. Well, almost.
"Thinking about the past is what really
inspired me to think about the future."
My class reunions have always been wonderful occasions to look back on a special time and place in my life", says Jackie Fleming. "This time, I decided to look forward, too."
As Jackie's 50th Class Reunion approached, she began to think about her estate plans. She wanted to commemorate her special ties to William and Mary in a way that would support future generations.
Working with the Gift Planning Office, Jackie made a bequest in her will to establish a permanent endowment. The annual income from her endowment will support student and faculty research in perpetuity, which, Jackie agrees, is a very long time.
"Our gift annuity was a great way to support Bunny's 50th Reunion while enhancing our
As longtime members of the Honorable Robert Boyle Legacy Society, Jim and Bunny Neff know the importance of good planning. When Bunny's 50th Reunion came along, the couple wanted to support her class gift in a way that would bring their charitable and financial plans together.
The Neffs were familiar with the charitable gift annuity since they had established one with Dartmouth, Jim's alma mater. Working with the Gift Planning Office, Jim and Bunny established a gift annuity that provides fixed annual payments for life. These payments will never vary and are backed by the full faith and credit of the College of William & Mary Foundation. They also saved income taxes and capital gains taxes.
Their gift annuity helped Jim and Bunny achieve their goals. And we're pleased to report that Bunny's class did, too.
"The charitable gift annuity was a perfect way to
bring my charitable and financial plans together."
As a retired teacher and elementary school principal, Mary Murphy knows the importance of preparing future generations of educational leaders. For several years now, her annual gifts have helped support graduate students in the School of Education's Policy, Planning and Leadership program.
When Mary began to consider other ways to support William and Mary, she was interested in a charitable plan that would provide current income and a future gift to help endow her annual scholarship. Mary was familiar with the charitable gift annuity since a friend had established one with her alma mater several years ago.
Working with the Gift Planning Office, Mary established a charitable gift annuity that will provide fixed annual payments for life. These payments will never vary and are backed by the full faith and credit of the College ofWilliam & Mary Foundation. Mary also saved income taxes and capital gains taxes.
With her charitable plans in good order, Mary has more time to indulge her passion for reading via the latest technology or the good old fashioned way.
"Good teachers teach. Great teachers inspire. Emily Calkins was a great teacher."
Though it's been more than 60 years since he left William & Mary, Bill Ritter has never forgotten his math professor, Emily Calkins. "She was an extraordinary teacher who really cared about her students," says Bill. "The memory of her has been an inspiration throughout my life."
When he began to consider his estate plans, Bill wanted to ensure that future generations would be inspired by great teachers like Emily Calkins. With assistance from the Gift Planning Office, Bill made a provision in his will to establish the Calkins-Ritter Professorship in the Arts and Sciences. You just never know where good memories can lead.
"I always tried to encourage my students
to grow and develop through new experiences.
I hope these scholarships will, too. "
You might say Lou Catron had been rehearsing for this moment since he had come to William and Mary in 1964. A professor of theatre for 35 years, Lou had always loved teaching, directing, and nurturing students' artistic talents on the stage, in the classroom, and beyond.
When he began to reflect on his life and career, Lou wanted to help future generations grow creatively and artistically through a variety of educational experiences.
With assistance from the Gift Planning Office, Lou made a provision in his estate plans that provides annual scholarships in the creative arts. The Louis E. Catron Fund for Artistic Development will help students pursue master studio courses, museum internships, summer theatre productions, writing workshops and other enriching experiences. What a great second act.
"This was the perfect way to accomplish my goals"
On the tennis court, Millie West is known for her competitive spirit and a formidable serve. Off the court, Millie has served William and Mary for more than 50 years as a dedicated coach, administrator, and fundraiser. Today, she can often be found at the ITA Women's Hall of Fame in the McCormack-Nagelsen Tennis Center where she serves as curator.
When Millie began to consider her charitable plans, she was interested in a vehicle that would provide income now and a future gift to William and Mary. With assistance from the Gift Planning Office, Millie established a charitable remainder trust. In addition to the steady income she receives from the trust, Millie saved income taxes and avoided capital gains tax. The future proceeds from her trust will provide support for the Women's Tennis Program and Olympic Sports Coaches. With her charitable plans in good order, Millie says she has more time to work on her tennis serve while continuing to serve the College she loves.
"Having a stable, reliable income is important to me—and so is William and Mary"
As everyone who knows Sunny Williams will tell you, William and Mary is always on her mind. So when Sunny began to consider her charitable plans, naturally she turned to William and Mary. With assistance from the Gift Planning Office, she established a charitable gift annuity, one of the oldest and most popular vehicles for those seeking a steady and dependable income during retirement. In exchange for her tax-deductible gift, Sunny receives fixed annual payments for life. These payments will never vary and are backed by the full faith and credit of The College of William and Mary Foundation. A portion of each payment is tax-free.
Sunny has been so pleased with her gift annuity, she plans to establish another one each year. The future proceeds from her gift annuities will be added to The Rolf and Sunny Williams Family Professorship For The Arts.
"Our rental properties are the perfect way
to bring all of our plans together."
When Randy and Shelby Hawthorne purchased their first rental property several years ago, they never imagined where it might lead. Though both have maintained busy careers, they have steadily acquired other properties, enjoying the many benefits of investing in real estate along the way. When the couple began to consider their charitable plans, they decided to contribute one of their properties to a trust that will provide income for their lives and a future gift to the Mason School of Business. They received an income tax deduction based on the appraised value of the property and avoided capital gain taxes. Once the property was deeded to the trust, the College's trustee handled all of the details of managing and selling the property.
This has been such a positive experience, Randy and Shelby have decided to fund similar trusts with their other properties as part of their future income, tax and charitable planning. This plan, they agree, will also help simplify their lives when they retire in a few years.
"This plan helped us accomplish all of our
goals at one time."
Pete and Judy Nance know the benefits of good planning.When the couple began to consider their goals, they were interested in a charitable plan that would provide a steady income during the initial years of their retirement, followed by a gift toWilliam and Mary.
Working with the Gift Planning Office and their financial advisor, they established a charitable remainder trust that pays income until Pete begins taking withdrawals from his retirement accounts several years from now. At that time, the remaining assets in the trust will be used to establish a professorship in their daughter, Sara's, memory.
While the income and capital gain tax savings were welcome news to their accountant, Pete and Judy say the greatest joy is seeing their gift benefit students and faculty during their lifetime — just the way they planned it.
"Using investment property to invest in
William and Mary students was one of the
best decisions I've ever made."
Glenn Crafford knows a good investment when he sees one. On one of his many visits to Williamsburg, he purchased a nearby town home.
While Glenn enjoyed a steady rental income and other benefits of owning investment property, the town home continued to appreciate over the years.When Glenn began to consider his charitable plans, he decided to contribute the property to William and Mary. He received a charitable deduction for the appraised value and also saved capital gain taxes. The College's Real Estate Foundation handled the details of the property sale from start to finish.
The sale proceeds were used to establish an endowed scholarship for Intercollegiate Athletics and to support the Finance Academy at the Mason School of Business. "This rental property was a good investment over the years," Glenn says. "But the best returns are coming to the students."
"The steady, dependable income from my gift annuity helps me enjoy my retirement."
As an active retiree, Frances Robb enjoys volunteering in Swem Library's Special Collections where she helps catalogue and preserve manuscripts and historical documents. Like many, Frances was interested in a charitable plan that would provide a stable, reliable income during retirement and a future gift to William and Mary.
With assistance from the Gift Planning Office, Frances established a charitable gift annuity. In exchange for her gift, she receives fixed annual payments for life. These payments will never vary and are backed by the full faith and credit of The College of William and Mary Foundation. A portion of each payment is tax-free.
Frances was so pleased with her first gift annuity, she's been establishing one each year for several years now. The future proceeds from her gift annuities will support the most pressing needs of Swem Library, and, of course, the Special Collections.
"We were pleased to find a flexible plan to
meet our charitable and financial goals."
Like many, John and Audrey Leslie's retirement income is sufficient for their present needs and will likely remain so unless medical or other expenses increase significantly in future years. They were interested in a charitable plan that would allow the flexibility to start the annuity payments anytime their income needs ever change.
Working with the Gift Planning staff, the Leslie's chose to establish a flexible deferred payment gift annuity. The Leslies can begin receiving payments anytime by simply notifying William & Mary. The longer they defer the income, the larger the payments will be.
In the meantime, the Leslie's received an immediate charitable deduction, which saved current income taxes. As with all annuities, a portion of their payments will be tax free.
The future proceeds from their gift will establish the John and Audrey Leslie Professorship in Arts and Sciences.
"We were pleased to discover that we could
enhance our retirement income and make
a future gift to William & Mary without
diminishing our children's inheritance."
When Sid and Carole Barrett started thinking about their charitable and estate plans, they had several goals in mind. They were looking for a way to supplement their retirement income and make a future gift to William & Mary, while still preserving their estate for their children.
Working with the William & Mary Gift Planning Office and their professional advisors, they found the solution: a charitable remainder trust to provide current income and a life insurance trust to replace the contributed assets in their estate for their children.
"While this gift has been a real win-win in many ways, it's the students who will benefit the most. We hope our scholarship fund will make a real difference for future generations."
"We enjoyed ten years of benefits from our trust, and we're pleased that William & Mary can Benefit now."
When you meet a Schaubach scholar-athlete or visit the Alumni Center, you might be surprised to learn that both are being supported today by the proceeds from a trust Elliott and Carolyn Schaubach established several years ago. The type of charitable trust they chose is called a term of years or term trust.
Working with the William & Mary Gift Planning Office and their professional advisors, the Schaubachs established a trust that would pay income to them for 10 years, then distribute the trust assets to William & Mary. "It's easy to overlook the term of years option when establishing a charitable trust," says Lee Walsh, Director of Gift Planning. "But it can be the right choice for many."
While the income and tax benefits are important, the Schaubachs agree that the greatest benefit of a term trust comes when the trust period ends. "We're delighted to see the impact of our gift during our lifetime."
"Adding to our trust was an excellent
way to enhance our retirement income
while supporting Marguerite's 50th
It has been more than 10 years since Jay and Marguerite Huff Brown '54 established their charitable trust with William & Mary. When Marguerite's 50th Reunion came along, the Browns wanted to support her class gift in a way that would meet their other financial and estate planning needs.
Working with William & Mary's Gift Planning Office, the Browns decided to make a series of annual additions to their trust. These additions will increase the value of their trust, which in turn increases the income payments they receive from the trust. The Browns also receive a charitable income tax deduction when adding to their trust. And since they have chosen to make these additions with appreciated securities, they also save capital gains tax.
Inspired by the memory of their nephew, Patrick Brown, the couple decided to designate the future proceeds from their trust for a scholarship to support students working their way through college.
"This is a wonderful way to meet our needs and the future needs of William & Mary students."
"The steady income from my trust
helps me enjoy my retirement years."
As an active retiree, Ruth Tillar enjoys traveling to far off places with alumni and friends where she indulges her passion for adventure (yes, that's Ruth in the framed photo paragliding 4,000 feet over the Swiss Alps!). When she's not touring with the Alumni Journeys travel program, she's likely to be journeying to Williamsburg for some special event on campus.
Like many retirees, Ruth was interested in a charitable plan that would support her busy lifestyle while providing a future gift to William & Mary. Working with the Gift Planning Office, Ruth chose one of the most versatile vehicles to accomplish her objectives: a charitable remainder trust. In addition to the steady income she receives, Ruth saved income taxes and avoided capital gain taxes. The future proceeds from her trust will be used to support the Alumni Association.
Now wherever her journeys take her, Ruth knows her William & Mary trust will be there to support her.
"Establishing our trusts with William & Mary has been a good decision for our
When John and Virginia Bennett began to consider their charitable plans, they were interested in a vehicle that would support their busy retirement while providing a future gift to William & Mary. Working with the Gift Planning Office, the couple established two charitable trusts. One trust provides a fixed income while the other trust provides a variable income that may grow over time.
The Bennetts are using a portion of their income payments from the trusts to help their grandchildren. "This was one of the best decisions we ever made," says "Wicky," as she is known to her classmates. John agrees. With their charitable plans in good order, John and Virginia have more time to enjoy their retirement years, including frequent visits with their family.
The future proceeds from their trusts will be used to establish permanent endowments, benefiting students and faculty in perpetuity.
"Sharing our home with William & Mary has given us great pleasure —
and some wonderful benefits."
Jack Russell and Lee Chichester have always enjoyed sharing their home with friends and family. So when the couple began thinking about their charitable plans, they decided to share it with William & Mary, too.
With assistance from the Gift Planning Office, Jack and Lee contributed a remainder interest in their home while retaining the right to live there during their lifetimes. Should they ever decide to move, the property would then be sold. Jack and Lee would receive their proportionate share of the sale proceeds along with William & Mary.
By contributing their home in this way, the couple received a substantial charitable deduction which saves current income taxes. The future proceeds from their gift will be used to establish a professorship in their names.
With their charitable plans in good order, Jack and Lee feel right at home with their decision.
"As you get older, you tend to reflect
more on what you'll leave behind.
We feel good knowing we will be tied
to William & Mary forever."
Like many alumni and friends, Bill and Nancy Young reached a point where looking back on their lives led them to look forward to their future legacy.
"It all started when we received an inspirational letter from President Tim Sullivan. It caused us to pause and appreciate how our time at William & Mary helped to mold us as adults. We wanted to assure that future students could share in our experience."
The rest was easy. "All we had to do was contact the Gift Planning Office. They walked us through everything."
The Youngs were pleased to learn that they didn't need to specify the purpose of their bequest in the will. "This gave us more time to consider those areas of the College which were especially important to us."
While visiting the campus to attend the annual Sir Robert Boyle Legacy Society luncheon, the Youngs decided to divide their bequest equally between the Muscarelle Museum and Swem Library. "It is a good feeling to know that our bequest will benefit future generations in perpetuity."
"William & Mary students are making a real
difference in the community. We hope our scholarship
will make a difference, too."
Since retiring to Williamsburg nearly 20 years ago, Andrew and Dorothy Haramis have been active volunteers in many community organizations. One of the greatest benefits, they agree, has been the opportunity to meet many William & Mary students who are also involved in community service.
"You should see these students in action — they're outstanding," says Dorothy. The Haramises have been so impressed with the students they have met, they decided to establish a scholarship through their estate plans. The William & Mary Gift Planning Office provided the language for their attorney to add a codicil to their will.
"Though neither of us had the good fortune of attending William & Mary, we are pleased to honor these students for their devoted service to the Williamsburg community."
"As a single woman, it's especially important to have a good
estate plan. And I feel good knowing my plans include William & Mary."
Maggie Glauber has that certain peace of mind that comes from knowing that she has planned well for the future. Like many, her estate plans include a revocable trust, durable power of attorney, and a living will. And of course, a thoughtful bequest for William & Mary. With language provided by the William & Mary Gift Planning Office, Maggie had her attorney include a charitable provision in her trust. Her bequest will support unrestricted endowment and establish a scholarship in her name.
With her estate plans in good order, Maggie says she has more time to spoil Sam, her 12 year old Jack Russell terrier. "Like William & Mary, Sam gets a lot of my attention."
"Education has always been important to
us. We're pleased to remember two colleges
that have meant so much to our lives."
Like many couples, John and Audrey Leslie attended different colleges. So when they began to consider their estate plans, they wanted to remember both alma maters — William & Mary and Michigan State University.
Using a portion of the payments they receive from a charitable gift annuity established several years ago, they created an endowment to provide ongoing support for William & Mary's greatest needs, as determined by the president. Their endowment will be further augmented by the future proceeds from the gift annuity. The Leslies have also made equal provisions in their wills to benefit their two schools.
"Our bequests are a wonderful way to honor the outstanding educations we received while enhancing those of future generations."
"We left William & Mary with more
than just a great education and wonderful
memories — we left together."
Since that first day they met in freshman math class, Steve and Linda Mitchell have shared many lasting memories of their college years. As time has passed, their appreciation for William & Mary has only deepened. Like many, they were looking for a way to commemorate this special time and place in their lives.
With language provided by the William & Mary Gift Planning Office, the Mitchells had their attorney include a charitable provision in their wills. Their bequest will establish a permanent endowment for the general support of the College.
Now that Steve and Linda have completed their estate plans, it looks like it's smooth sailing.
"Funding our trust with real estate
helped us to achieve our goals —
and simplify our lives."
When John and Julie Dayton began to consider their charitable plans, they were interested in a vehicle that would provide income now and a future gift to William & Mary. The couple owned some undeveloped property that John had purchased years earlier. Though the property had increased in value, it was not producing any income.
Working with the Gift Planning Office, the Daytons contributed the property to a charitable remainder trust that provides income for their lives. They received a current income tax deduction and avoided capital gains tax. The future proceeds from their trust will support students participating in the Reves Center Foreign Service Internship Program.
Since the College's trustee handled all the details of the property sale, John and Julie were free to enjoy their retirement, which, they say, "we do very well."
"You might say that I'm building for my future
—and William & Mary's—together."
Whether it's retirement planning, estate planning, or charitable planning, Barbara Maguschak takes the same thoughtful approach.
"I'm accustomed to seeking out information and advice, then making my own decisions," she says. When Barbara began to consider her charitable plans,William & Mary naturally came to mind.
She contacted the Gift Planning Office for assistance in naming William & Mary beneficiary of her 401(k) and other retirement plans. Her bequest will create a permanent endowment for Swem Library, where she enjoyed working as a student.
"Though I'm not planning to retire any time soon, it's nice to know I have some good plans in place."
"My parents and William & Mary were important
influences in my life. I'm pleased to remember them
in away that will benefit future generations."
Education has always been important to Richard Copeland, a retired educator himself. When he began to reflect on his life, he wanted to honor his parents and William & Mary in a meaningful and lasting way.
With assistance from the Gift Planning Office, Richard made a provision in his estate plans that will create two permanent funds: a scholarship in his parents' names and another in his name for students in the School of Education.
"My parents and William & Mary helped shape and enrich my life in so many ways. I hope my scholarships will do the same for future generations," he says. Now that his estate plans are in good order, Richard says the fish are biting better than ever.