Charitable Remainder Trust to the Wharton School
For Tina and Jim Lambert, WG’79, developing and maintaining a close association with Penn evolved naturally when their son John, C’06, ENG’06, began his college career at the University. The couple regularly attends campus events and Jim in particular takes full advantage of the ample resources for Wharton alumni. From watching Lifelong Learning webinars, to reading Knowledge@Wharton to gain insights on current business topics, to attending alumni club activities, their Penn affiliation plays a large role in the Lamberts’ lives.
“There is no better way to stay connected than spending time on campus, interacting directly with the students, faculty, and staff,” says Jim. “Long lasting relationships can happen during a reunion or other events on campus.”
When it came to supporting Penn, the Lamberts chose a pragmatic approach. With the help of the University’s Office of Gift Planning, they established a Charitable Remainder Trust (CRT) to support the Wharton School. The CRT has allowed them to make a significant gift now while supplementing their retirement income later. By carefully choosing the trust investments, their trust will generate less income now, but larger payments later to help meet their need for income after retirement. When the trust terminates, the remaining assets will pass to Wharton, offering the School flexibility in how the gift will be used. With their gift, the Lamberts are creating a meaningful legacy for future generations. Their generous gift qualifies them for membership in the Charles Custis Harrison Society, the University’s way of recognizing those who have planned for its future.
“By investing now in assets with a greater potential for capital appreciation, the opportunity for growth of our gift is increased,” says Jim. “In our case, we have also chosen to contribute to Wharton the income generated by the trust prior to our retirement to further add to the potential for growth for us and for Penn. It’s truly a ‘win-win’ for us and the University.”