Are you concerned about the high cost of capital-gains tax with the sale of an appreciated asset? Have you recently sold property and are looking for a way to save on taxes this year while planning for retirement? A charitable remainder unitrust may offer the solutions you need.
You transfer cash or assets to fund a charitable remainder unitrust. In the case of a trust funded with appreciated assets, the trust will sell the assets tax-free. The trust is invested to pay income to you—or any other trust beneficiaries you select—based on a life, lives, a term of up to 20 years, or a life plus a term of up to 20 years. You receive an income tax deduction in the year you transfer assets to the trust, and Purdue benefits from what remains after all the trust payments have been made.
Contact Jeanne Butler at jlbutler@purdueforlife.org.
A charitable remainder unitrust pays you income that reflects the value of the trust’s assets. Your income has the potential to increase over time as the trust grows in value. There are several unitrust payout options to meet your needs. The best option may depend on the nature of the asset used to fund the trust. We would be happy to work with you and your tax advisor to determine which payout option is best for you.
Patsy earned a bachelor’s degree in food and nutrition in business from Purdue in 1969, in addition to an MBA in food marketing from Michigan State University in 1970. She retired from Kraft Foods in 2006 after 36 years in corporate food marketing and marketing communications management.
A community volunteer, Patsy serves on the Women’s Fund of Central Indiana Advisory Board and the Purdue College of Health and Human Sciences Dean’s Leadership Council, in addition to the President’s Council Advisory Board. She is a former member of the Health and Human Sciences Alumni Board. Patsy held several offices from 2006 through 2013, including president and treasurer. She serves her community’s Discover Indianapolis Club in Fishers, holding several leadership roles for over 10 years.
Patsy has received several honors, including the Purdue University Nutrition Science Department Hall of Fame recipient in 2009 and the Purdue University College of Health and Human Sciences Distinguished Alumni Award in 2016. She also received the college’s Gold and Black Award in 2016, an honor reserved for donors who have moved the college forward by committing exceptional financial resources.
In addition to endowing two scholarships, the Patsy J. Mellott Scholarship and Patsy J. Mellott HHS Scholarship, she established the Patsy J. Mellott Teaching Innovation Award in the College of Health and Human Sciences in 2013. In 2015, she endowed the Patsy J. Mellott Women’s Tennis Coach Performance Award. She is a lead donor in the Christine M. Ladisch Faculty Leadership Award and the Purdue Women’s Network Virginia C. Meredith Scholarship for the College of Health and Human Sciences.