November ’18 Newsletter: Planned Giving- The Gift that Keeps on Giving

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 We hear the term ‘the gift that keeps on giving’ so much it becomes cliché, and few of the cited examples really muster the label.  For Tom White, however, it is a fitting description. Tom established a Charitable Remainder Unitrust (CRUT) at UVA using appreciated stock.  By giving stock, Tom avoided paying lump sum capital gains tax, gained a tax deduction, and also receives a seven percent annual return on the CRUT’s assets. Tom allocated the CRUT to the Jefferson Trust, which allowed him to give his daughter Elizabeth White Boutry (COL ’92) a seat on the board of trustees. Liz now has a vote in distributing nearly $1 million dollars in grant funding to students, faculty, and staff projects across Grounds each year.

Although Tom did not attend UVA, his father, T. Aubrey White, was a triple-Hoo; and his two daughters Elizabeth White Boutry (COL ’92) and Linda White Banta (COL ’82) as well as his granddaughter Isabel Banta (COL ’19) are also proud alumni.  Tom wanted to carry on the tradition of leadership in the family by making his gift to the Jefferson Trust.

As the stock market continues to climb, a CRUT can be a great way to give to UVA, minimize taxable income, and maximize a return.  It can truly be the gift the keeps on giving!