Gift Planning

Laddered, Deferred Annuities to Support the London Study Group: Jack ’71 and Laurie Hamilton

Planned gifts come in many forms. As Jack Hamilton ’71, a career tax attorney, knows, planned gifts benefit both donor and charity.

“When I retired, I started to consider ways to structure a planned gift. After running the numbers and consulting with my wife, Laurie, and our financial advisor, the gift annuity met our needs most closely,” Jack shared.

Laurie also knew something about gift annuities. Her father gave one to his alma mater (Princeton) when he was 72 and lived until the age of 98. “That’s one heck of a good return!” she said.

Jack and Laurie created two flexible deferred charitable gift annuities, laddered together — meaning that Colgate will combine the income from both into one convenient, fixed-income stream over their lives, starting on a date they determine. At the end of their lives, the remaining proceeds will fund an endowment in their names.

Laurie explained the annuities: “We inherited stock from a great-aunt years ago. It had appreciated wildly. We used the capital gain as a tax benefit, and get a greater income from the Colgate annuity, than we would have from just the dividends.”

Their endowment, the Hamilton Family London Economics Study Group Fund, will commemorate Jack’s time in the London Study Group, which he credits with being among his most influential experiences at Colgate. The fund will help to remove student financial constraints from study abroad participation.

Celebrating his 50th reunion in June, Jack fondly remembers his Economics professor, Robert Freedman, who inspired him to study in London for a semester: “He let people go outside of the assignment, and I became convinced that economics was really important.”

“I have warm feelings for Colgate,” Jack said. He feels strongly that his Colgate education has not only shaped his life but also his desire to give back.

Jack hopes other alumni are similarly inspired: “Reflect as to how you think, what you think about, and how you reach decisions. I think you’ll find a lot of this came from your Colgate experience. You should support Colgate to help others experience that.”

The discussion herein is general in nature and may not apply to all individuals. Prospective donors are urged to consult their personal tax and financial advisors concerning the specific consequences of making gifts to Colgate. We would be pleased to discuss, in confidence, ways in which you may support Colgate. These measures may also have an impact on your estate planning.