Taking Care of Your Financial Future

Dennis and Gail Jackman smiling

Dennis '76 and Gail '77 Jackman are helping to support innovative learning and research projects in the College of the Liberal Arts.

An introductory sociology course was the first time Dennis Jackman and Gail Atchley Jackman worked together as undergraduates. They continued to work together in student government, representing students who lived off campus.

As alumni, Dennis and Gail are still doing their part to make Penn State a stronger, more vibrant institution. By planning a gift to Penn State, they hope to benefit the University for many years to come.

After the two graduated from Penn State-Dennis in 1976 with a degree in sociology and Gail in 1977 with degrees in individual and family studies and consumer studies-they both earned advanced degrees at
Cornell University.

Today, Dennis is the international senior vice president, public affairs, at CSL Behring, a global leader in biotherapies for patients with rare medical diseases. Gail founded and heads marketing research consulting firm REACH Research & Consulting House.

While Dennis and Gail's work and personal lives take them around the world, they remain closely in tune to what's happening at University Park, especially in the College of the Liberal Arts.

A History of Giving
In 2009, the couple made a gift to Penn State's Rock Ethics Institute to advance ethics education, an issue near and dear to their hearts. Last year, Gail and Dennis created a trustee scholarship to help undergraduate students with emergency financial needs during the school year.

Dennis and Gail have been similarly generous with their time and talents, serving on the External Advisory Board and the Development Council for the Rock Ethics Institute.

Recently, the Jackmans were looking to deepen their philanthropy while also planning for their retirement. By working with Penn State's Office of Gift Planning, they discovered that the charitable remainder unitrust with a flip provision (CRUT) fit the bill perfectly.

"We wanted to find a way to contribute to the college that would meet its needs and, at the same time, we would be taking care of our financial future," Dennis says. "It allows us to contribute now to Penn State without putting our retirement at risk."

How It Works
High-earning donors can view the Flip CRUT as a retirement planning vehicle with many of the same benefits of an IRA or 401(k) plan, but without the annual limitations on how much can be contributed.

Since the Jackmans do not need extra income while they are still working, they have chosen to invest available funds and defer their income payments until after they retire.

At the end of their lives, the balance in the trust will go to the Dennis and Gail Atchley Jackman Dean's Fund for the College of the Liberal Arts, which will support innovative learning and research projects by faculty and students.

While the Jackmans chose this gift vehicle with an eye toward the future, their desire to give back to Penn State stems from their own undergraduate days.

"Our Penn State experience provided inspirational teachers and great educational opportunities for both of us," Dennis says. "We want to help the faculty and students anywhere we can."

Learn More
Contact the Office of Gift Planning at 888-800-9170 (toll free) or giftplanning@psu.edu to learn more about how you can support students and faculty at Penn State University.

A charitable bequest is one or two sentences in your will or living trust that leave to The Pennsylvania State University a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

"I give to The Pennsylvania State University, a nonprofit corporation currently located at c/o Office of Gift Planning, 212 The 103 Building, University Park, PA 16802, or its successor thereto, ______________* [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to Penn State or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to Penn State as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to Penn State as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and Penn State where you agree to make a gift to Penn State and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

Personal Estate Planning Kit Request Form

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eBrochure Request Form

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