By Chandra Harris-McCray
Fifteen years have passed, but June Larrabee can still see the colors of autumn leaves dotted along a Memphis road where her only daughter was tragically killed in a car accident at the age of 17.
Time has been a healer but cherished memories of Kathy remain. Tears still stain Larrabee's face when she catches herself singing a song on the radio she normally belted off key with her daughter or saying a phrase that would have come from her daughter's mouth.
"It is such a terrible loss when you lose a child," she said. "The pain is like an elephant sitting on your chest."
Planting a tree or placing a memorial wreath on the roadside where Kathy died was not enough for June and her husband, James, who now live in Florida. They have shared and connected others to the intricate journey of Kathy, who suffered from attention deficit/hyperactivity disorder (ADHD), by establishing a research endowment in her memory at the University of Tennessee Health Science Center. The Lauralee Kathryn Larrabee Endowment shines a light on the unvarnished reality of ADHD, a chronic disorder affecting millions of children who struggle with poor school performance, troubled relationships and low self-esteem.
While there is no cure, "there is still so much to be learned about ADHD from which parents can benefit," June said.
"Kathy's smile could light up a room but behind her smile was so much not understood. If our gift can be used to solve those unanswered questions of ADHD, then Kathy's life will continue to have a profound impact for generations to come."
June left her impression on the UT Health Science Center's College of Nursing as the first doctoral graduate in 1992. While pursuing her educational endeavors, she continued working at the Memphis campus in a joint appointment between the College of Nursing and the Regional Medical Center at Memphis.
"It is not only the place where I received my Ph.D.," June said. "It is the place where people offered a great deal of support and allowed me to tell the story of Kathy and remember her. UT Memphis will always hold a dear place in my heart."
The soul of June's scholarly pursuits has focused on quality health care. With more than 40 years of nursing and leadership experience as a staff nurse, clinical nurse specialist, educator, director of nursing quality improvement, author and researcher, she currently serves in a joint appointment between West Virginia University's School of Nursing and West Virginia University Hospitals.
June said that at the core of the UT Health Science Center's statewide academic health system is the determination to "improve lives through education, research, clinical care, and public service."
"My daughter's legacy lives on by helping to improve the lives of others," she said. "Kathy will always live on in my heart."
The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results. Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.
A charitable bequest is one or two sentences in your will or living trust that leave to The University Of Tennessee 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 University Of Tennessee [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 UT 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 UT 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 UT 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 UT where you agree to make a gift to UT 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.