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Susan M. Buzick: School of Veterinary Medicine


To say that Ms. Susan Marshall Buzick is a cat lover is truly an understatement. Everywhere you turn in her house is a statue, painting, or photograph of a cat, and, of course, there are her four feline housemates - Pooky who came from an abusive home, Nola came from a neighbor who was moving, Bunny came from a stranger who was rescuing the cat from a pack of dogs, and Jean Luc from her veterinarian, Dr. Charles Banta of Carrollton Veterinary Hospital. Dr. Banta has been her veterinarian since she moved to New Orleans in 1965, along with Dr. Chris Algero who now owns the practice.

"I used to always have 12 cats," said Ms. Buzick, "but I have to limit myself to four now." "Cats have done so much for my life, and the veterinarians that I've used over these years - I wish I could have a doctor like them," Ms. Buzick commented.

One Sunday in 2003, when Smitty, her 18-year-old cat, showed complications from diabetes, Ms. Buzick's niece, Jane Henslee, who works with the LSU Foundation, suggested she contact Dr. David Senior, head of the Department of Veterinary Clinical Sciences. "I was hoping to learn of a new medical treatment for Smitty that might be unavailable to my local veterinarian," said Ms. Buzick. Dr. Senior first consulted with Dr. Banta, then talked to Ms. Buzick to affirm that Smitty was receiving the best treatment possible.

With gratitude to Dr. Senior and the encouragement of her niece, Ms. Buzick decided to establish a $150,000 Charitable Gift Annuity for the LSU School of Veterinary Medicine. "This is nothing but a win, win, win," said Ms. Buzick. "I hope that this will be used for the benefit of animals, to find ways to cure diseases and take care of sick animals."

A native of Teague, Texas, Ms. Buzick spent most of her married life in San Francisco. She received a degree in English from the University of Texas and worked in various areas around the country, with animals constantly in her life. "I've devoted my life to cats," she said. "I've wanted all of them to have the best possible home." Ms. Buzick is active with Best Friends, an animal adoption organization in New Orleans.

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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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