Grateful Alumnus Makes a 'Deeply Satisfying' Gift
It was as a Penn State undergraduate that Sheldon Chaiken first acquired the passion for excellence that later defined his career in the financial services industry.
"I was content to go along and get along," he says. "But my Penn State professors inspired me to really push myself and see what I could achieve."
Now, as the retired senior vice president of Paine Webber, Sheldon is delighted to give back to his alma mater.
"It is deeply satisfying to know that I can make a difference for future generations of Penn State students, and it's simply the right thing to do-to give back to those who have given so much to
me," he says.
By remembering Penn State in his estate plans, Sheldon hopes to benefit the University and some of its most ambitious students for many years to come. Working closely with the Office of Gift Planning, he created a charitable remainder unitrust (CRUT) that will one day fund scholarships for students in the Schreyer Honors College.
"I found the CRUT to be a very effective estate planning device for myself, my heirs, and the University," he says.
His wife, Gail, perhaps best expresses the Penn State pride that drove Sheldon's professional success and motivated his philanthropy.
"If you could hear Sheldon talk about Penn State, you'd get chills down your spine," she says. "He is who he is because of Penn State, and he has a great love for the University."
If you're interested in learning more about CRUTs and how this type of gift could benefit you and the University, please contact Michael J. Degenhart, Assistant Vice President, or any of the expert gift planning officers in the Office of Gift Planning at Penn State at 888-800-9170 (toll free) or email@example.com.
The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results. Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.