Having an IRA has long been touted as a smart retirement strategy. But while IRAs provide tax benefits during their owners’ lifetimes, they can become a tax liability when they are passed on as an inheritance. The solution? Use the funds to make a charitable gift. That’s what Mark Krosse ’72 is doing for Princeton.
Gift Planning Stories
Three alumni -- Huyler Held ’47, H. Dwight Neill ’54, and Mary Deibel *76 -- chose to leave a legacy to Princeton by including the University in their estate plans as the beneficiary of their IRAs. Their support honors their connection to the University while making the experiences that were so important in their lives available to others.
Paul Sittenfeld ’69’s commitment to education inspires him to help others have the same experience. He and his wife, Betsy, created a Princeton charitable lead trust to further strengthen University bonds and assist their family.
Remembrance is important to Herb Hobler '44. It led him to create two charitable remainder unitrusts at the University. “I want my name remembered at Princeton, which I strongly support with a belief and faith carried on by an annual gift,” he said.
More than 118 years after arriving on campus, the Class of 1898 continues to give back to Princeton. Although no member of the class has marched in the Reunions P-rade for decades, trusts and bequests created by these far-sighted Princetonians have contributed $750,000 to this year’s Annual Giving campaign.