The Kennedy Legacy
Larry '52 and Suzy Hager Kennedy '53 became members of the Cretin-Derham Hall Legacy Society when they included CDH in their estate planning. The couple explained their motivations for the gift and how the estate planning process worked for them. To learn more about estate planning, contact Rob Bollinger at (651) 696-3343 or firstname.lastname@example.org.
Q. What prompted you to include Cretin-Derham in your estate planning?
A. Suzy: Four years of learning, maturing, and the making of life-long friends. Loving memories of teachers-the Sisters of St. Joseph-who cared about you. Having received so much from Derham Hall, there is a desire to give back to help future students.
A. Larry: The Christian Brothers taught us course subjects well, and how to learn, and disciplined us well, in and out of the classroom. They greatly helped us transition in four years from young boys to young men with instilled values and an appreciation of the Brothers that still is vibrant. While they and the Sisters are few in number in the classrooms today, I believe the LaSallian philosophy and tradition lives on in the administration and faculty at Cretin-Derham Hall so it can be instilled in the student body today. Just as in our day 50+ years ago, the school continues to educate students of diverse abilities, cultures and socio-economic backgrounds. As in the days of my youth, the Cretin Rouser sums it up best: "the greatest school in all the land" ... "the friendships we've made will live forever in our memory". I'm happy to say that the friendships we've made continue to this day. And so, for all these reasons and more, Suzy and I moved to include CDH in our recently revised estate planning, giving back a little to the school from which we gained much and hoping the tradition lives on for future generations of students. Our thoughts and aspirations were reaffirmed by the letter A Thankful Farewell from Tim Kenney '05 that appeared in the Spring 2006 Traditions, p. 18. (Recommended reading for all alumni/alumnae!)
Q. How would you characterize the estate planning process?
A. Suzy: Ask my husband; he did all the work.
A. Larry: The process is relatively quick and easy. You have to do some planning ahead as to what your goals are and have an accounting of what you own and what you owe.
We worked with an attorney well known to us and with whom we had previous experience in such matters. The expense was relatively moderate; having the peace of mind that your "affairs are in order" and up-to-date at this stage of your life is worth it. We are in the 4th quarter of our lives and hoping for overtime!
Q. What is your advice to others who may be thinking about estate planning?
A. Suzy: Remember your high school experience and share with CDH so others may benefit from an education founded on Catholic values and strong academic teaching.
A. Larry: Do it! Talk over and align goals. Take inventory of assets and project what may be available for distribution. We have five mature children, fully emancipated. In our planning, we decided on a "sixth share" for charitable purposes and CDH is named as an immediate cash/capital bequest out of it. And, in order to continue our habit of annual gifts while we are living, CDH will be urged as an annual recipient from the Donor Advised Fund with the Catholic Community Foundation, after we are gone.
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.