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Honoring Teachers

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Peabody Demonstration School was an important part of Scott Sudduth's youth. He grew up on the college's "faculty row," just two doors down from Miss McMullan. She liked to turn to young Scotty to help entertain her nieces and nephews whenever they came to visit.

The Sudduths first came to Peabody College when Scott's father was working toward his Ph.D., then moved to Alabama after Scott finished nursery school. When they returned to Nashville, he was in fifth grade. He graduated from PDS in 1954.

A graduate of Princeton and Johns Hopkins, Scott practiced obstetrics and gynecology after his residency training at Boston Lying-in (now Brigham and Women's). For more than four decades he had a private practice "in lovely Exeter, New Hampshire" and "enjoyed all of the above immensely."

Now, approaching the sixtieth anniversary of his PDS graduation, he remembers the teachers there who inspired him.

"At Peabody I was drawn toward math and science, and that was the way it was in college as well. Hazel Lundberg and Dr. Beauchamp were two of the teachers I remember most. They were just excellent teachers." Dr. Beauchamp encouraged him to go into medicine, something that was in the back of Scott's mind anyway, as his mother's father was a physician.

Though Scott recalls his teachers as being seasoned veterans of twenty years or more on the faculty, one young man who was there only a short time remains vivid in his mind. "One person who was very good was Gilbert Wilson, our eighth grade teacher. He was very down to earth. He let you express your knowledge and explore multiple answers to questions. He encouraged people to think freely."

Deciding to make a gift to USN to honor the school and its great teachers was an easy part of his estate planning. "It came about as I was setting up a revocable trust, and it was to be distributed upon my death" along with other similar bequests.

"It's an unrestricted gift, and I would hope it would go toward furthering the excellences at the school and toward recognizing the quality of teachers that we have."

Scott adds, "It's a place that is very special, and we all benefited from our excellent education there. It's time to give back," he says to his fellow alumni. "It should be high on your list of ways to give back."

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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.

A charitable bequest is one or two sentences in your will or living trust that leave to University School of Nashville 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

 Bequest Language

I, [name], of [city, state ZIP], give, devise and bequeath to University School of Nashville [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 USN 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 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 USN 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 USN 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 USN where you agree to make a gift to USN 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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