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We all remember the defining moments in our lives. For Ron, it was when he realized the important role education has played throughout his life. A thriving high school sports program was integral in landing him a full scholarship at his undergraduate institution. When his sports career was sidelined, however, he took his college mentor's advice and parlayed the interest in science he had developed there toward a degree in dentistry at another university. After establishing a practice, he also took time to instruct others: for 30 years he taught at the University of the Pacific's School of Dentistry, where he rose to the position of Dean for Clinical Services. Upon retirement, Ron wanted to give something back to education and also take care of his family. He found out that making his family the beneficiary of his IRA would result in a deflating 70-80 percent tax bite to his gift to them. So he made other arrangements for his family and named Pacific as one of the beneficiaries of his TIAA-CREF IRA. It will endow a chair at the dental school. As a charitable institution, Pacific receives the entire amount of Ron's generous bequest. "Education turned my life around," explains Ron. "And now it's my turn to turn around the lives of others. I was able to do that, through teaching. Although I'm retired, I can keep doing so through my endowment. With this bequest, Pacific gets all the funds that I wanted to give, and that makes me very happy."  The 2010 IRA charitable rollover passed the House and awaits Senate approval. It is not currently available. Because it is very likely to pass this year, we ask you to continue to plan for a potential IRA charitable rollover in the fall of 2010. To learn more click here.You may print a Bequest tri-fold brochure. Voice of a Legacy or Will Your Will be Known. |
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