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Gift & Estate Planning

Gifted Communicator Gives Back to Burroughs

William A. Borders

William A. Borders in 1989

After joining the JBS Class of 1956 as a sophomore, Bill Borders, who passed away in February, made his mark on the track and soccer fields, as well as onstage as the lead in two musicals. However, it was his time spent on the World and yearbook staffs that foreshadowed what became a 46-year career at The New York Times.

Bill earned a bachelor’s degree in English from Yale University and joined The Times in 1960, starting as a copy boy. He spent his entire professional life there, leaving only for a six-month stint in the Army Reserve. As a foreign correspondent, he covered — among other events — a military coup in Afghanistan, India’s return to democracy and protests in London against nuclear weapons. He later rose to senior editing positions and a top post overseeing The Times’ writing and editing standards. He also acted as a liaison with readers, fielding their questions, complaints and sometimes compliments. He retired in 2006. Throughout his long and distinguished career, Bill never forgot his connection to JBS.

His son, Will Borders, says, “My father loved Burroughs, and I believe he felt it had a considerable role in molding his worldview as he widened his horizons to Yale and beyond.”

Burroughs is grateful that Bill remembered the school with a generous gift through his estate. Plans are on tap to recognize his contributions to journalism and to Burroughs with a plaque in the student publications lab in the new STAR (science, technology & research) building.

We are happy to discuss ways in which you can support JBS through your estate. To begin planning your legacy, please contact Ginger Imster at 314-993-4045 ext. 256 or gimster@jburroughs.org.

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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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