Bequest from Melvin Giles '38 Creates Scholarship Fund

Melvin Giles smiling In 2008, the SLUH family lost a wonderful supporter with the death of Melvin Giles '38. He was a volunteer, reunion organizer and benefactor to our school. His support of the school continues on, even after his death. Melvin made provisions for SLUH in his estate plans, and the school has received gifts totaling $1 million from his estate. The funds have been placed in the school's endowment fund, and the investment earnings will provide scholarships for deserving SLUH students for generations to come.

Melvin attended SLUH from 1934 until 1938. He was a successful student and graduated with honors. Involved in many activities, he was a standout infielder and leading hitter on the baseball team. He was a captain on the basketball team, and he was a member of the city championship football team. He cherished his time at SLUH and cited his Jesuit education as a keystone of his success in life.

The Great Depression, and the challenges it presented, shaped the time that Giles attended SLUH. Now, more than 70 years later, we are feeling the strains of another era of economic hardship. Thanks to the generosity of Melvin Giles, SLUH is better prepared to meet the challenges of these difficult times. Each year, the income from his endowed scholarship will provide financial support to several SLUH students, keeping the Jesuit education he cherished within reach for more young men.

If you would like information about making an estate gift to SLUH, please visit our planned giving website at here or call Melissa Jones, CFRE at 314-269-2186 or mjones@sluh.org.

A charitable bequest is one or two sentences in your will or living trust that leave to St. Louis University High School a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

UNRESTRICTED USE AND PURPOSE
"I, [name], of [city, state, ZIP], give, devise and bequeath to St. Louis University High School [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

RESTRICTED USE AND PURPOSE
"I, [name], of [city, state, ZIP], give, devise and bequeath to St. Louis University High School [written amount or percentage of the estate or description of property] for [scholarship name or another specific purpose]."

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to SLUH or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to SLUH as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to SLUH as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and SLUH where you agree to make a gift to SLUH and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

Personal Estate Planning Kit Request Form

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eBrochure Request Form

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