Barry '60 and Ruth Carling '59 Budlong

Planning for Retirement -
Build a Legacy of Your Philanthropy at St. Lawrence

As you approach retirement, you review the accomplishments of a lifetime of work and philanthropy, and look ahead to how those legacies of your existence will impact the future for your immediate and extended families. If St. Lawrence is part of your extended family, consider saying "thank you" to those who came before you, and impacting the generations of Laurentians who will come after you. Maybe a scholarship endowment in your name? Or an academic fund to honor your entire family? Or maybe an unrestricted gift to be used where the need is greatest?

Planning for St. Lawrence can help achieve other retirement goals as well. For example, Ruth '59 and Barry '60 Budlong created a deferred gift annuity to make a gift to St. Lawrence and generate retirement income as well. The annuity generated an income tax deduction when it was created and will begin making payments a few years from now.

Education remains one of the most precious gifts we receive and then share with the future. The legacy of your philanthropy can touch the minds of generations of Laurentians as they go forward to make their world a better place.

Guarantee income with your gift - You can make a gift to St. Lawrence and receive guaranteed payments for the rest of your life with a charitable gift annuity. You can also defer the start of those payments until some time in the future.

Plan retirement income with a gift - You can create a charitable remainder trust and receive variable or fixed income for you and/or other loved ones. You can also delay the start of income to some point in the future.

Combine your gift with others for income - In our pooled income fund, your gift is combined with gifts from others to generate income throughout retirement and a gift for St. Lawrence later on.

Keep it simple - A bequest in your will or living trust may be for a specific amount or asset, a percentage, a remainder or a contingency. It may memorialize a family member or the family name. You can also create a gift annuity or charitable trust through your will to provide income to other loved ones before a gift ultimately goes to St. Lawrence.

Think creatively - Retirement plan assets are expensive for rheirs, since they must pay tax on income from the plan. It may be tax-advantageous to capstone your philanthropic legacy with a gift of retirement plan assets to St. Lawrence and bequeath other assets to heirs.

"Insure" your legacy - Naming St. Lawrence the owner and beneficiary of a life insurance policy can generate an income tax deduction now for the cash value of the policy, and preserve your charitable legacy for later.

Would you like ideas on creating a gfit plan using non-cash assets? Request our workbook, Creative Planned Giving with Non-Cash Assets.

Would you like help organizing and defining your philanthropy? Request our Philanthropic Planner.

Would you like further information on gift-with-income plans? Request our workbook, Will a Gift with Income Plan Work for Me?

Is it time to update your will? Need help getting organized before meeting with your attorney? Request our Estate Planning Organizer.

Your plan for St. Lawrence's future may make you a member of the G. Atwood Manley Society.