Mutual Rewards

Raymond and Deanna Lloyd, Planned Gift Donors 

When Raymond and Deanna Lloyd of Highland, Utah decided to sell their two rental properties last year, they wondered how they could avoid paying a third of what they made to taxes.

"We thought rather than paying so much in taxes, we would check into the tax benefits of a charitable remainder trust," Deanna said.

A charitable remainder trust enabled the Lloyds to avoid up-front taxes on the sale and invest the entire sales proceeds. They will receive an income from the investments for the rest of their lives. they have that the remainder of the trust will go to education when they pass on. Having both grown up in Utah County and managing a plumbing business in Provo before retiring, the Lloyds have seen UVSC grow from its small trade tech years to its impressive 25,000 students this fall.

"We have been able to see the College get bigger, better and stronger. We are impressed with the education and student-to-teacher ratio," said Raymond. "It's been a pleasure to watch the growth, while it still focuses on personalized education."

According to Deanna, "Not only did we decide to give our remainder to UVSC because they introduced us to the idea of a trust, but we also felt like our gift would mean more there. The College doesn't get as many donations as some of the more established schools, yet has the same number of students to educate."

With the satisfaction they feel from the establishment of their own trust, the Lloyds are now encouraging others to look into the option.

"I think there are a lot of people who have properties that they are afraid to sell like we were because of all the taxes," said Raymond. "I don't think people know there is a vehicle like this charitable remainder trust that can help them."

"It was a great fit for us," said Deanna.

Printed in the UVSC Annual Report 2001-2002