fbpx

Pay It Forward in Your Estate Plan

DentistUniversity of Kentucky’s Alumnus Craig Adams plans to use his estate plan to fund the lapsed scholarship program that enabled him to go to dentistry school.

When Craig Adams was in high school, his father said he should think about dentistry as a profession. Adams took his dad’s advice seriously. After graduating from dental school, Adams went on to build a very successful dental practice.  Along with his dental practice, Adams serves as a member of the adjunct clinical faculty at the University of North Carolina School of Dentistry and the community faculty of the University of Kentucky College of Dentistry.

With gratitude for his UK education and a desire to help students follow his same career path, Adams made the largest gift commitment in the history of the College of Dentistry.  “Dental school is expensive,” he said. “Nationwide, today’s students are graduating with an average debt of $250,000. I know I can’t help all of the students pursuing dentistry at UK.  However, by endowing a scholarship, I can help one or two students per year, every year, for many years to come.”

Adams contacted UK’s senior director of Gift and Estate Planning to help him map out the parameters of the scholarship endowment he wanted to create and to fund it in a tax-wise manner. Adams made a “hybrid gift,” establishing an endowed scholarship to be funded with both outright gifts during his lifetime and deferred gifts through his estate plan.

This allows Adams to consider the details of how he wants the scholarship to work and gives him the opportunity to see his philanthropy at work as scholarship grants are made.

In total, Adams’ gift commitment is more than $3 million, which makes it the largest in the UK’s College of Dentistry’s 54-year history. Does this sound like something you’d like to do? Making an appointment has never been easier, simply request a consultation online or call our office to schedule this complimentary meeting. 

Reference: University of Kentucky Campus News (November 21, 2016) “UK Dentistry Alumnus Craig Adams Gives Back to Alma Mater”

 

Like this article?

Share on facebook
Share on Facebook
Share on twitter
Share on Twitter
Share on linkedin
Share on Linkdin
Share on pinterest
Share on Pinterest

Leave a comment

LIKE THIS POST?

We have a LOT more where that came from!

We hate spam too. We will never share or sell your information.

Call Now ButtonCall Us Now https://jsfiddle.net/7h5246b8/

Request a free consultation

We hate spam too. We will never share or sell your information.

We've been putting together as many resources as possible so that we can continue to help:

  • If you’re a current client with a signing appointment or a prospective client with a consultation and would prefer that meeting take place in your own home, we can accomplish that with a little bit of pre-planning on our part and with the addition of a laptop, smartphone, tablet or other computer in your home to facilitate this virtual meeting. For those of you that need to sign legal documents, that too can be accomplished with the use of a webcam (FaceTime etc.), so that we can witness and electronically notarize all of your important legal documents.
  • We launched the rollout of our on-demand webinar early so that new clients and our allied professionals can view the important component parts of ‘an estate plan that works’ at their convenience.  That is available on our website.
  • Live video workshops will be produced as quickly as possible and certainly ahead of our previous schedule; we will keep you posted as these events become available. Given the ‘boutique’ nature of the firm, we rarely have more than ten people in our office including team members at any one time. During this period of ‘social distancing,’ we promise to have no more than 8 people at any time.   This allows us to comply with the Governor’s directive to limit in-person gatherings.
  • The best way to communicate with us is still by phone during regular office hours of 8:30 to 5:00, Monday through Friday, or, you can email any of our team members (that is, their first name followed by @zarembalaw.com).  We will respond to these emails as quickly as possible.
  • Please continue to follow the directives of our local, state, and federal agencies. For your health and in consideration of our team who is assisting you, if you’ve scheduled an office appointment or planned to drop off paperwork and are experiencing a fever, dry cough, or shortness of breath, please contact your primary care doctor for guidance and then our office to reschedule.

Thank you, Walt and the Zaremba Team

Coronavirus/Covid-19
Update to our Process

The unprecedented coronavirus pandemic has taken our entire country by surprise. We understand how difficult this time is for America’s businesses and families.  However, we believe it is vitally important that we make every effort possible to continue to offer solutions that avoid disrupting our important partnership with you, your family and friends.  As you know, estate planning is not something that should wait for a more convenient time, therefore the opportunity to address your important goals both during and after this crisis should not wait.  To that end, we have added the option of a ‘virtual consultation’ to our office process.  You will now have a choice of either meeting with us in our office or in the comfort of your own home.