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Gift & Estate Planning

True–Blue and Gold (pants)

John MintonTo those who know him, the fact that John Minton '46 has remembered Burroughs in his estate planning will come as no surprise. John, who celebrated his 70th reunion with classmates in 2016, is a loyal supporter of all things Burroughs. His true-blue and gold spirit was clearly revealed in his choice of apparel for the 2013 Athletic Center opening.

John has served his class and school in a variety of ways—as a member and president of the Alumni Board, as a phonathon caller for Annual Giving and as a loyal Bombers fan. In 2004, when Debbie Deutch '68 introduced John as the recipient of the Alumni Distinguished Service Award, she described him as "wise, gentle and insightful." She continued, "John loves Burroughs, and the feeling is mutual."

According to his senior page in the 1946 Review, John, a three-sport letterman, was a "mighty mite in action." He stood out "athletically, academically and socially," and even "crossed up everybody and ran 60 yards against a bewildered Country Dazed team."

School's Philosophy Remains the Same
John describes his Burroughs experience as somewhat "Spartan." He says, "When I attended JBS, the entire staff consisted of the headmaster, his secretary and one maintenance man! The only building remaining from my Burroughs days is the main administration building."

One thing that hasn't changed, he says, is the school's philosophy.

"Burroughs was founded on the importance of equal emphasis on academics, including the arts, activities and athletics, and I feel that balance is vital to healthy growth," he says.

Building a Lifelong Foundation
John also feels that character building is an essential part of being a Burroughs student. He describes loving JBS as being "touched by the magic."

"Burroughs built a foundation for me that has stayed with me my entire life, and that's why I want to give back. It's hard to explain much beyond that. I have come to understand that you can love a place the same way you love a person and never fully need to know the reason why," he says.

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A charitable bequest is one or two sentences in your will or living trust that leave to Burroughs 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

Bequest Language

The official legal bequest language for John Burroughs School is: "I give to John Burroughs School, a nonprofit educational institution located at 755 South Price Road, St. Louis, Missouri 63124 and incorporated under the laws of the State of Missouri, the sum of $_______ [or the following described property or a designated percentage of my estate], to be used for its general educational purposes."

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 JBS 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 JBS 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 JBS 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 JBS where you agree to make a gift to JBS 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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