Jack Theall knew what he wanted to accomplish with part of his estate. He wanted to receive a lifetime income for him and his wife; he wanted to minimize capital gains, income and estate taxes; and he wanted to honor several professors who made a positive impact on him while he was a student at UL (then SLI) in the late 1930s and early 1940s.
Thanks to some advice from his professional financial advisor he was able to accomplish what he wanted prior to his passing in 1999. A Charitable Remainder Trust enabled the Thealls to save capital gains taxes, income taxes, and ultimately, estate taxes.
A lifetime income from the charitable trust was paid to Mr. & Mrs. Theall for their lifetimes. Their legacy was created when assets that remained in the trust after they both passed away were gifted, according to their wishes, to UL to establish three endowed professorships in their names.
For more information about establishing a charitable remainder trust at UL, please contact David Comeaux, Director of Planned Giving, by calling (337) 482-0922 or e-mail firstname.lastname@example.org