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Planned Giving

Dr. and Mrs. Charles C. Drace Jr.

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University President Lawrence Biondi, S.J., presents the School of Medicine's Spirit of Philanthropy Award to Marilyn Drace.

Following in the footsteps of his father, Dr. Charles C. Drace Jr. graduated from Saint Louis University School of Medicine in 1939. His father was a 1900 graduate of the Marion Sims-Beaumont College of Medicine, the forerunner of Saint Louis University School of Medicine.

For more than 43 years, Dr. Drace worked as a general surgeon in private practice and was a staff member of several St. Louis area hospitals. In addition to his distinguished career in medicine, Dr. Drace also pursued other civic interests and hobbies. He served on a committee that founded the city of Town and Country, Mo., in 1950. He also was an avid horseman who raised horses on his "mini-ranch" in Town and Country.

Following Dr. Drace's death in 1998, his wife, Marilyn, funded a charitable remainder unitrust with their Town and Country home and surrounding acreage. The trust provides lifetime payments to her and will ultimately create the Dr. and Mrs. Charles C. Drace Jr. Endowment Fund for the general support of the School of Medicine.

The real estate, which initially funded the charitable remainder unitrust, was subsequently sold by the trust to the City of Town and Country. The city developed the property into Drace Park, a nine-acre public space that features walking trails, gazebo, playground and two pre-Civil War log cabins.

Mrs. Drace is a resident of St. Louis and Wellington, Fla., where she is an avid polo fan. She attended the University of Georgia and for many years worked as a broker and vice president for the Stifel Realty Co. in St. Louis County. In addition to polo, her interests include participation in the Freedoms Foundation of Valley Forge, Daughters of the American Revolution and a women's investment group called the Investa Gates.

"In as much as it was my husband's desire to contribute to the research efforts of the School of Medicine at Saint Louis University, I wanted to fulfill his wish as much as possible," Mrs. Drace said. "I found an opportunity to do so when our house and property became too much of a burden to maintain. I knew that the real estate was going to the University and discovered that the charitable remainder trust would accomplish all of my objectives. I was relieved of the responsibility for maintaining the home and land, and now receive lifetime payments from the trust. In addition, the residents of Town and Country can enjoy the park and the University benefits as well. It is a happy feeling."

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Information contained herein was accurate at the time of posting. 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 any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. California residents: 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. Oklahoma residents: 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. South Dakota residents: Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.



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A charitable bequest is one or two sentences in your will or living trust that leave to Saint Louis University 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 give to Saint Louis University, a nonprofit corporation currently located at St. Louis, Missouri, or its successor thereto, ______________ [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 Saint Louis University 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 educational 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 potential 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 may qualify for a federal income tax charitable deduction when you itemize. 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 Saint Louis University as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. 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 Saint Louis University 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 Saint Louis University where you agree to make a gift to Saint Louis University 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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