Thealls' Charitable Remainder Trust

Thealls' Charitable Remainder Trust

Jack Theall knew what he wanted to accomplish with part of his estate. He wanted to receive a lifetime income for him and his wife; he wanted to minimize capital gains, income and estate taxes; and he wanted to honor several professors who made a positive impact on him while he was a student at UL (then SLI) in the late 1930s and early 1940s.

Thanks to some advice from his professional financial advisor he was able to accomplish what he wanted prior to his passing in 1999. A Charitable Remainder Trust enabled the Thealls to save capital gains taxes, income taxes, and ultimately, estate taxes.

A lifetime income from the charitable trust was paid to Mr. & Mrs. Theall jointly, and is now being paid to Mrs. Theall as the survivor beneficiary. Assets that then remain in the trust will be used, according to the wishes of Mr. & Mrs. Theall, to fund seven (7) $100,000 endowed professorships at UL. Six of the professorships will carry the names of professors who taught Mr. Theall, and whom he wanted to honor.

Mrs. Theall decided (shortly after the passing of Mr. Theall) that the 7th professorship should carry the name of her late husband in recognition of his humble generosity toward his alma mater and the six professors that he chose to honor.

For more information about establishing a charitable remainder trust at UL, please contact David Comeaux, Director of Planned Giving, by calling (337) 482-0922 or be sending an e-mail.

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