Leaving a Lasting Legacy

Stephanie, Godfrey, and Tim smiling

Stephanie, Godfrey, and Tim

Tim Mankus '79 knows the value in having a plan. While at SLUH, he earned enough 1818 credits to enter college as a sophomore in status.

"I had to fund my own college, so little did my parents know that they actually paid for my first year while I was in high school," Mankus jokes.

Just four years after high school, Mankus earned an MBA in Finance from the University of Missouri. For the past 26 years, he has worked at Wells Fargo. In 2010, Mankus and his wife, Stephanie, moved to Charlotte, where he currently serves as Director in the company's residential mortgage-backed securities sector.

While distance separates him from his hometown, the former STUCO President still feels close to his alma mater. He keeps in touch with classmates and fondly remembers some of his favorite teachers: Mr. Dunn ("I was one of a long list of his barometers."), Mr. Becvar ("He tolerated us in freshman homeroom, God love him."), and Fr. McCabe ("He spent much of his free time tutoring me in French.").

Mankus, who grew up in St. Anthony of Padua Parish in South City, says attending SLUH was the "best decision from a career and life management perspective I ever made."

"In my finance and capital markets-based career," he continues, "you would think that kudos would go to the SLUH math department, but the reality is that the English department taught me how to write and effectively communicate. This is a huge benefit with the fast pace of my job and the quick-hit nature of today's communication."

Today, Mankus still finds merit in planning.

"Stephanie and I finally addressed the estate-planning process this year," he says. "We're not Buffet and Gates, but we are committed to charitable donation. After hearing me yap so many years about SLUH being one of the pivotal decisions of my life and seeing the finished product through my U. High friends, it was pretty clear where we were going to direct things."

Mankus encourages others to develop an estate plan. "It's good for long-term planning and a huge win to direct your estate to a charity," he says. "For us, it was easy to choose St. Louis U. High because we know the impact it can have."

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

Please provide the following information to view the materials for planning your estate.

eBrochure Request Form

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