Bill Fivaz ’56

A “Triple Win”: How One Alumnus’s Charitable Remainder Trust Simplifies Meaningful Giving

Bill Fivaz ’56 is deeply committed to supporting NMH. As he approaches his “senior years,” Bill speaks candidly about the importance of estate planning to provide for his family and designated beneficiaries—including the charitable institutions he cares about most.

Bill and his wife Marilyn established a charitable remainder trust (CRT) around the time of his 50th reunion. With the help of a well-versed estate planner, the Fivazes named several schools, churches, and other nonprofit organizations as remainder beneficiaries of the trust.

Establishing the CRT was a triple win for Bill and Marilyn. First, it provided a vehicle through which they could direct their estate to surviving family members as well as to the organizations they care about. Second, a portion of the income from the trust enabled Bill and Marilyn to purchase adequate life insurance policies on themselves, through which the death benefit will ultimately be payable to their children free of taxes. Third, Bill and Marilyn were able to pay themselves a steady income through their trust and receive a nice quarterly (taxable) check from the CRT to be used at their discretion.

“It is truly a win-win-win situation,” Bill shares. “All the schools, churches, charities, and other remainder beneficiaries get their share when we leave this planet, [and] the kids get the full value of the life insurance policy tax-free.” And, maintaining a light-hearted attitude towards the subject, Bill adds, “While Marilyn and I are still vertical, we benefit from a nice quarterly income.”

In short, a charitable remainder trust is a wonderful way to help Northfield Mount Hermon without compromising taking care of yourself or your loved ones. “Remember, it's a win-win-win scenario that, surprisingly, few folks are aware of,” Bill says, “I encourage you to explore this financial avenue with your estate planner.”