Gift Planning

The Gift of Real Estate

Jim Adams ’70 and Jane Adams P’96

Jim Adams ’70 and his wife, Jane, have been loyal Colgate donors for many years, but the couple always wanted to do something more for the University when Jim retired.

This year they saw their chance. Jim and Jane purchased a condominium in the early 1980s and since it was a secondary home and they were no longer earning income from it, it was time to divest. After talking to the Planned Giving Office at Colgate, they decided that a special charitable remainder trust, from which they could sell the property and generate new income, best fit their family’s needs. “I focused on the impact of this revenue on my family and the future gift that will go to Colgate,” says Jim.

“We feel very lucky that we can do this,” says Jane.

Jim agrees. “We have lived a very happy life, and we want to pay it back,” he says.

Jim met Jane in their sixth-grade class on Long Island in Huntington, New York. The couple dated during their college years while Jim was a student at Colgate and Jane was at SUNY New Paltz.

Some of Jim’s favorite college experiences were his participation in the Colgate study groups — the Washington Study Group in his junior year and the London Economics Study Group in his senior year. Since they were married in 1969, Jane accompanied Jim to London. “Colgate encouraged my wife to come and participate in some of the lectures,” Jim says.

He fondly remembers David Stern, his thesis adviser who led the Washington Study Group, and Robert Freedman who led the London Economics Study Group.

After graduating from Colgate, Jim went on to work for the World Bank for more than 37 years, with a focus on Africa, Asia, and Latin America. The couple has lived in Tanzania and Kenya. “Colgate had a big influence on my career choices, and studying abroad encouraged an interest in international affairs,” Jim says.

The couple passed their affection for Colgate down to the next generation: their son, Zed Adams who was Class of 1996, is now an associate professor of philosophy and co-director of the Institute for Philosophy and the New Humanities at The New School for Social Research in New York City.

“He has been successful, so we are doubly thankful,” Jane says.

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.