Gift Allows Couple to Protect Family, Help Valued Causes

Dr. W.R. and Janet Davenport

Dr. W.R. and Janet Davenport created a charitable remainder trust that will support Campbellsville University.

By Joan C. McKinney, news and publications coordinator
Dr. W.R. and Janet Davenport have chosen Campbellsville University—a cause "dear to our hearts"—for the distribution of their estate funds through a charitable remainder trust.

"We are not wealthy," says W.R., who served as president of Campbellsville College from 1969 to 1988, "but when we are gone we want to share some of what is left with our children and also provide some support for causes that are dear to our hearts."

Through a charitable remainder trust, the Davenports, and anyone, can do the same.

The trust allows estate assets to be distributed to heirs over a period of years (called the trust period) and then to distribute the remainder of the estate to the ministries.

"It is a tremendous legal instrument," W.R. says, "that allows achievement of all these estate objectives."

W.R. says, for practical purposes, the trust allows a donor to give estate assets away twice. They can be given to heirs in a controlled fashion over a period of years and then, at the end of the trust period, given to the support of ministry.

A charitable remainder trust is in effect a "give it away twice" trust.

W.R. said he and Janet have "real peace of mind" about the arrangements they have provided.

"There is stability and security in the fact that the Kentucky Baptist Foundation will serve as trustee for the administration of the arrangement," he says.

"These structures allow us to leave our assets to our children over a period of years and then to direct the remainder of the trust to support the Lord's work through CU and the Gideons."

To learn more about how a charitable remainder trust could work for you, please contact Benji Kelly at 270.789.5061 or jbkelly@campbellsville.edu.

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