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Live to Give: Georgia Alumni Turned Proud Mocs Create UTC Nest Egg

Sheri Fox and Fred White

Sheri Fox and Fred White proudly support UTC.

After Fred White's father died of a heart attack at 37, what came to matter most to him was not the beginning or end of life, but the years lived. Then 13, Fred's lesson in dying catapulted his living.

His calling was not in advertising like he thought. For more than 35 years, Fred has made it his business to ensure legacies remain intact as a life and financial planning consultant at BB&T Insurance Services in Chattanooga, where he serves as assistant vice president. He's following his own advice by including the University of Tennessee at Chattanooga as a partial beneficiary of his estate.

"It is a simple gesture that I know will make a difference at UTC," Fred says. "I don't have to guess or hope today about the future of an institution I care deeply about because planned gifts— like life insurance—help build the future of UTC."

A University of Georgia alumnus, his loyalty is tied to UTC because "it is in my backyard," says Fred, who lives on the border of Tennessee and Georgia in Lookout Mountain with his wife, Sheri Fox. Sheri, also a Georgia Bulldog, received her law degree from the University of Tennessee at Knoxville 10 days before her 40th birthday.

Anything but a house divided, Fred and Sheri believe UTC's dominant presence and force prevails in Chattanooga and throughout the state, "and it just makes us proud," says Fred, who can often be found among the fanfare at UTC basketball games and wrestling matches. 

"What I love about teaching is that I learn as much as the students, if not more," says Sheri, who commuted from Chattanooga for three years to attend law school in Knoxville. "I love unearthing the answers to the questions I don't know."

Nurturing appetites for voracious learning is at the root of the couple's giving. "Whatever the need is at the time, we want our gift to be used to advance the knowledge of students and to build the esteem and reputation of UTC.

"That's why we are part of this community," Fred says, "and that's why we give."

You Can Make a Difference
For information on planning a gift to support future students at UT, contact the Office of Planned Giving at (865) 974-4826 or today.


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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.

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