Skip to main content

Keith and Patricia Sigmon Make Legacy Impact

Keith and Patricia Sigmon

Keith and Patricia Sigmon's planned gift to FSU will create two endowed scholarships.

Both R. Keith '66 and Patricia D. Sigmon '66, '67 know the value of their Florida State educations, as well as the importance of giving back to their beloved alma mater.

"The University played such an important role in our lives and is largely responsible for any success that we have enjoyed," say the Sigmons. "Florida State feels like home. It feels like family."

Keith, a retired banking executive, earned a bachelor's degree in finance, and Patricia, a career educator and counselor, earned bachelor's and master's degrees in health education—all from Florida State.

Patricia attended Florida State with the assistance of an academic scholarship from the Southern Scholarship Foundation.

"We've been married for 46 years and always hoped that someday we would be in a position to give back," Keith says. "That time is now, and very few things are as rewarding as helping aspiring young men and women achieve their goals and become productive members of society."

The couple worked diligently with the Office of Planned Giving to create a charitable gift plan that best accomplished their philanthropic goals. The Sigmons included a generous bequest to the FSU Foundation in their revocable trust, resulting in two named endowments to provide support for student scholarships.

"Both of us believe very strongly in helping students further their education," Keith says. "We are creating educational endowments for the College of Education through the Southern Scholarship Foundation, and for the College of Business."

Their bequest will ultimately benefit students who demonstrate financial need and a commitment to serving their chosen fields with responsibility and integrity.

But, the Sigmons' generosity didn't end there.

"We are also helping underwrite the costs for the career services conference room at the College of Business Legacy Hall," Keith says. "We believe these gifts are complementary. The scholarships will help students as they begin their college careers, and career services will provide guidance while they are in school and open doors for them as they enter the working world."

Learn How You Can Help
To learn how you too can give back to FSU through your will or revocable trust, contact The Office of Gift Planning at (850) 644-0753 or giftplanning@foundation.fsu.edu. We would be happy to help you find the gift that's right for you, at no obligation.

Click here to check out the different ways to give.

 

 

A charitable bequest is one or two sentences in your will or living trust that leave to Florida State 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 Florida State University, a nonprofit corporation currently located at Tallahassee, Florida, 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 the FSU Foundation 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 gift 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 receive an immediate federal income tax charitable deduction. 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 the FSU Foundation as a lump sum.

You fund this trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. 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 the FSU Foundation 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 the FSU Foundation where you agree to make a gift to the FSU Foundation 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.

Personal Estate Planning Kit Request Form

Please provide the following information to view the materials for planning your estate.

eBrochure Request Form

Please provide the following information to view the brochure.