SLUH Experience Inspires Pollock '61 to Give Back

Sue and Jack Pollock

Sue and Jack Pollock '61 are giving back to SLUH through a charitable remainder unitrust.

Jack Pollock '61 credits St. Louis University High School with changing his life. Compelled by a deep sense of gratitude, he is committed to transforming the lives of future Jr. Billikens through his own generosity.

"The education I received at SLUH was so deep and so wide," says Pollock. "I had to learn another language even though I didn't want to, but I eventually saw the value of it. I still use Latin. I had teachers who encouraged me to get involved in things I would have never done on my own, like speech and debate, the Glee Club and Sodality." His involvement during his time at St. Louis University became even more wide-ranging.

The skills Pollock developed at SLUH helped him in his career as a senior executive at ServiceMaster, a Fortune 500 company that provides residential and commercial services. "My experience in the Debate Club, for instance, helped me in selling, in being a manager...It taught me how to see other people's viewpoint and to value their viewpoint."

Inspired by his own SLUH experience, Pollock is giving back to his alma mater through a charitable remainder unitrust.

"In my mid-50s I had a lot of stock accumulated with the cost basis being really low," he says. "With a charitable remainder unitrust I was able to give a large part of the stock without paying capital gains taxes on it. When you set up a charitable remainder unitrust, you can continue to get the income and, upon both of our deaths, the remainder goes to our chosen charities. My wife, Sue, and I can maintain our standard of living and designate where the remainder goes upon our passing. Fortunately, including the income from the trust, we'll have enough money to live on, and we know a big chunk of our estate will then go to SLUH."

Today the Pollocks enjoy retirement in Bonita Springs, Florida. Reflecting on his experience at SLUH, Jack Pollock says: "There was a climate at the U High where it was expected you would get involved."

Thankfully, future students will benefit from Pollock's continued involvement in SLUH as a 'man for others.'

To learn how you can give back to SLUH through a charitable remainder unitrust, like the Pollocks did, contact 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.

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