Charitable remainder unitrusts (CRUTs) can be excellent sources of income in retirement for donors or their friends and families.
Gift Planning Stories
As a direct descendant of patriot Patrick Henry, Margaret Penick Nuttle P63 had a deep interest in honoring the memory of her American Revolution-era ancestor who is best known for his 1775 speech that ended with the phrase, “Give me liberty, or give me death.”
In 1953 Hugh L. Adams set up a trust for his son, Hugh Trumbull Adams ’35, that included a bequest to his son’s alma mater. When Adams ’35 died in October 2009 and the bequest was realized, Princeton received a 40 percent income interest in a $40 million perpetual trust.
The late Frederick H. Schultz ’51 established a charitable trust more than 25 years ago. It was a reliable source of income for him, and when he died in 2009 the payments passed to his wife, Nancy R. Schultz.
When the Very Rev. Margaret P. Patterson P94 P98 P98 established a charitable remainder trust in 2000, she designated her gift for the creation of the Patterson Family Endowed Student Aid Fund, in honor of her children—Elizabeth Patterson ’94 (whose husband is classmate R. Adrian Clarke), Harriet A. Patterson ’98, and J. Dwight Patterson Jr. ’98.
The Eisenhart name may be familiar to those who approach campus by the Graduate College and pass through the Luther P. Eisenhart Gateway on Springdale Road. Read about a century of Princeton connections for the Eisenhart family.
Gifts made possible by the trusts and estates of friends and alumni provided $104 million during the Anniversary Campaign for Princeton and touched every area of campus life.
Albert P. Delacorte '35 was a remarkable and thoughtful philanthropist whose deep love of learning and compassion for the underprivileged fueled his determination to open up educational opportunity to minorities.
Bernice F. Holmes K51 of Hendersonville, North Carolina, was the sister of Theodore H. Holmes ’51, a biology major who became a poet. When her brother died in 1971 at the age of 42, Bernice established a charitable remainder trust at Princeton and a bequest to the University in his memory.