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Bill and Fran Beck: College of Education

Wise and Generous Planning Funds...Two CGAs to Benefit the College of Educatio


Mr. and Mrs. William D. Beck have funded two Charitable Gift Annuities which will be used to create a professorship for Special Education in the College of Education. Their generosity reflects their desire to "give back" to LSU, which they feel has played a great role in the education and success of their family.

Fran and Bill Beck met during their college years at St. Louis University. After receiving their degrees, they moved to Louisiana so that Bill could gain employment in the oil industry. With a Masters in Education, Fran Beck went to work in Vermillion Parish, where she pioneered the Special Education program for the area.

Bill's work as a Geophysicist for the oil industry kept him away from home often. After a few years of this, the couple decided they wanted to make a change to "control their destiny better". They planned to do this by going back to school. The Becks chose LSU because "it provided the opportunity for both of them to continue their education."

Fran and Bill, along with their three small children, moved to Baton Rouge in the 1960's. Their fourth child was born shortly after their move. Fran pursued her PhD in Special Education while Bill attended the LSU Law Center. After receiving their LSU PhD and J.D., Bill began to practice law and Fran began teaching in East Baton Rouge Parish, as Supervisor. In 1965, Fran began her 27 year career with LSU, as the first woman to join the faculty of the College of Education. She also became the first woman to serve on the LSU Athletic Council. Fran is now a member and former president of the College of Education?s Peabody Society.

Together with their four children, the Beck family has received a total of seven LSU degrees. All of their four children attended LSU. Their oldest son graduated in Business at LSU, while their two daughters followed in their father's footsteps and each received a J.D. from the LSU Law Center.

The Becks have designated their gift to benefit Special Education, not only because of Fran's education and career, but also because they believe "there is a great need for donations to the College of Education."

The Becks' gift will touch many lives in the field of Education at LSU, just as Fran has for many years.

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A charitable bequest is one or two sentences in your will or living trust that leave to the LSU Foundation 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, [name], of [city, state, ZIP], give, devise and bequeath to the LSU Foundation [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 the LSU Foundation 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 gift 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 receive an immediate federal income tax charitable deduction. 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 the LSU Foundation as a lump sum.

You fund this trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. 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 the LSU Foundation 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 the LSU Foundation where you agree to make a gift to the LSU Foundation 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.

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