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Income Gift Supports Important Values - Barb and Darrell Williams

Income Gift Supports Important Values - Barb and Darrell Williams

Many of our friends would describe us as "academics." I guess we proved their point when we started to plan for our retirement. We searched books, articles, and computer based information for all sorts of ideas. One aspect was financial planning and we were delighted to discover something called a Charitable Remainder Trust.

This is a charitable gift that provides us a lifetime income. It was a good fit for us since we could put into this Trust appreciated assets that could then be sold without incurring any capital gains tax. We receive a percentage of the assets in annual income payments (with an income much higher than what we earned from the assets we originally placed there). The Trust cannot be revoked and must ultimately serve the non-profit world, so we also received a charitable tax deduction with the creation of this Trust.

Evergreen is important to us for the remarkable education our son, Kurt '91, received. His professors challenged him intellectually, but not just in knowing facts. At Evergreen, Kurt learned how to synthesize information, challenge others, apply his learning, and so much more. He's now a DPT (Doctor of Physical Therapy) holder who appreciates his strong scholarly start at Evergreen. We became involved after Kurt's graduation as volunteers with the Parents' Council and later on the Board of Governors of the college's Foundation. So by the time we created this trust, we thought of Evergreen and several other institutions that were very important to us in different ways. The good news is that we didn't have to make a painful choice-we could name all four as the ultimate beneficiaries of this gift.

So our research paid off: improved income, tax deductions, and the personal satisfaction of supporting people in institutions doing good for our world in different ways. We could write more, but we're off to be docents at the Aquarium . . . or is today the day we go to the Seahurst Park to continue our monitoring of marine organisms? Yes, our research also showed that the best retirement is a busy retirement!

- Barb and Darrell Williams

You might find it helpful to select the "print" button on the bottom of your screen and print this page. Please feel free to give this information to your attorney. If he or she has any questions, please have him or her contact us at (360) 867-6300 or email us at foundation@evergreen.edu


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