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 professors who made a positive impact on him while he was a student at UL (then SLI). Thanks to some advice from his professional financial advisor he was able to accomplish what he wanted. A Charitable Remainder Trust enabled the Thealls to save capital gains taxes, income taxes, and estate taxes. A lifetime income from the charitable trust was paid to Mr. & Mrs. Theall for their lifetimes. Their legacy was created when assets that remained in the trust after they both passed away were gifted, according to their wishes, to UL to establish endowments in their names and the names of professors who positively impacted Mr. Theall as a student at the university.
