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Life Well-Lived

Dr. John Millar

Dr. John Millar, pictured with his wife, Joyce, has served TU for 33 years.

Dr. John Millar, one of Tiffin University's longest-serving employees, is a well-known name on campus. Serving the university for 33 years, he assisted former President George Kidd in developing the university. John hired employees and built programs that made TU grow into the place it is today. At TU, he was the Dean of Enrollment Services, Director of Intercollegiate Athletics, Vice President for Academic Affairs (twice), Vice President for Student Affairs, and Dean of the Business School (twice).

Although retired, John's time at TU will never cease. As his final way to further a legacy and give back to the university, he named TU as a beneficiary in his estate plan as to further fund the John & Joyce Millar scholarship.

Endowing a scholarship is one of the best ways to give back to the university and make a difference. "The degree of impact is up to the individual, and working with the university's advancement team is easy," says John. He claims that students who earn a degree are given the opportunity to work in whatever field they choose. "What you do with it is up to you, and the more help you received from others, the greater the obligation to make a difference." He believes a degree provides an opportunity to have a "life well-lived."

"The cost to a student is immense when faced alone, less immense when faced with a family, and more possible when donors provide scholarships," John says. "Joyce and I are happy to be part of the solution and hope we inspire others to do the same."

"I am honored to be a part of students' success through my personal estate plan," John states. "Tiffin University is in my blood and a part of my heart; always."

Learn more about ways you, too, can make a lasting impact at TU. Contact Mitchell P. Blonde, CFRE at 419.448.3584 or blondemp@tiffin.edu.

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

"I give to Tiffin University, a nonprofit corporation currently located at 155 Miami Street, Tiffin, Ohio 44883, or its successor thereto, ______________ [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 TU 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 TU 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 TU 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 TU where you agree to make a gift to TU 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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