A Financial and Charitable Planning Guide
The
Legacy
of Psi Upsilon
Brothers for Life…and Beyond
Making the Psi U Opportunity Available for Future Generations
A
t the start of his university years,
Ensuring the Same Opportunities
Mark Williams faced two major
Psi Upsilon also gives young people the
challenges: finding a place for himself
opportunity to grow in confidence. “Psi U
amidst the massive student body at
provides opportunities for students to learn
the University of Michigan and knowing that after one
leadership by experience, especially as chapter
year of school, he would be drafted into the United
president,” Mark says.
States Army. Both these challenges seemed too big
Mark has included the fraternity in his will and
to face alone, so Mark sought out a place to belong
encourages other alumni to consider doing the
and found it in Psi Upsilon.
same. “The fraternity system is thriving because
“The chapter scaled down the university to a size
the current generation likes and needs what it can
I could understand,” Mark explains. “My big brother,
offer,” Mark says. “Through planned giving we
George Fisher, looked out for me, and the whole
can give future students the same gift we had.”
“The fraternity system is thriving because the current generation likes and needs what it can offer.”
How You Can Help…
—Mark Williams, executive director of The Psi Upsilon Foundation and the Psi Upsilon Fraternity
Psi U’s future depends on having the resources to support its current chapters and nurture relationships for future expansion. Active alumni
fraternity saw me through a tough year. After I served
support of time, talent and treasure will help Psi U
in the Army, the fraternity was my reason to go back
reach the goals of healthy, safe chapters. To learn
to Michigan, and the new brothers accepted and
more, contact Mark Williams at (317) 571-1833,
welcomed me.”
Ext. 27, or maw@psiu.org.
Mark has always appreciated the family-like feel of Psi Upsilon, starting out as a student, then as a volunteer and finally as the executive director of the Psi Upsilon Fraternity.
Mark Williams, Phi ’76, thanks William Webster, Gamma ’45 (Amherst), for his remarks at the closing banquet of the Psi U Convention.
“For many people, the fraternity has been one of the most formative influences in their lives.” —Mark Williams
“For many people, the fraternity has been one of the most formative influences in their lives,” Mark says.
WHAT’S INSIDE? > When Families Combine: Estate Planning Considerations > Dollars and Sense: Are You Compatible? > The Schoepflin Society
When Families Combine Estate Planning Considerations
D
o you know someone who is remarried? A friend perhaps or a parent? Maybe it’s you! The reality
• Clearly communicate your wishes to all family members as soon as possible after your new union.
is that most of us are tied to a “blended” family
• Establish a trust or other estate planning tool that will help
in one way or another. While you might consider
you transfer wealth according to your wishes. Choose a
them family, have you considered the impacts to your estate plan?
trustee who will manage your estate after your death and
Remarried couples may feel intimidated about sharing estate
respect your wishes.
wishes with each other, their children and their spouse’s
• Remove your former spouse’s name as beneficiary from
children. But with clear and compassionate communication and
all estate assets (e.g., insurance policies, investments and
advance planning, your group can come together to form a happy
retirement accounts).
family. When you are blending families, follow these tips for a smooth transition:
• Share your charitable giving plans with family members and explain to them how your contributions reflect your values.
• See an attorney about whether you should have a prenuptial or postnuptial agreement. • Work with an estate planning attorney to establish what portion of your estate your new spouse and his or her children will receive and what portion your children will receive. Then update your plans with new documents. • Decide who in your family will receive your jewelry, heirlooms, sentimental items and other personal property.
Everyone Wins Increasing the size of your family doesn’t have to mean decreasing your charitable support. Contact Psi Upsilon Executive Director Mark Williams to learn how you can help further Psi U’s mission while also taking care of loved ones.
E Recycled Paper
Properly communicating estate wishes with your new family will bring you and your spouse even closer to happily ever after.
Dollars and Sense Are You Compatible?
S
A Financial Quiz For Couples
uccessfully sharing money with another person doesn’t happen automatically. Even the best of partners need to establish a system for keeping up with day-to-day as well as long-term spending issues.
Whether you are recently married for the first time, remarried or have been together for many years, it’s important to have compatible answers to the following questions.
Where do you get cash in an emergency? Experts advise setting aside three to six months’ worth of expenses into an account that will pay you interest but that you
How much are you saving for retirement?
can easily tap into when you need cash quickly.
To make sure you will both be able to live comfortably in retirement, it is important to save money wisely. The earlier you
What sorts of purchases are OK to charge on a credit card?
start saving, the better. Don’t overlook the multiple benefits of employer-matching contributions, too.
If you haven’t already, determine how much and what type of credit is acceptable to both of you. Each member of a couple
What will happen to your assets when you die?
should have credit separately to build a personal credit history in
Creating an up-to-date will is the first step toward disposing of
the event it may be needed in the future.
your estate the way you intend. Make sure your family and your loved ones are taken care of after you’re gone with a sound
Will you give to causes you care about?
estate plan.
When you make donations to a charitable organization like The Psi Upsilon Foundation, you’re giving away more than your
Communication Is Key
money. You are, in a sense, transferring one of your most
While you and your partner may not concur on all of the answers,
precious assets—your values. To discover the many ways you
these questions can trigger future financial discussions. Financial
and your spouse can support Psi Upsilon, simply contact us or
advisors agree that honest communication is key to a compatible
visit www.psiu.org.
financial future.
Let Us Help If you would like to support Psi Upsilon, we would be happy to help you plan a gift that enables us to carry out our mission while meeting your financial goals. Simply give Executive Director Mark Williams a call at (317) 571-1833, Ext. 27, at no obligation.
The Schoepflin Society
N
amed for Paul H. Schoepflin, Pi ’12 (Syracuse University), the Schoepflin Society recognizes members and friends who have made a planned gift to The Psi Upsilon Foundation. Brother Schoepflin’s bequest resulted in a gift of more than $700,000 to the Foundation, the largest contribution at that time. The following members have indicated their estate plans include a
bequest to The Psi Upsilon Foundation, have signed a statement of such an intent or have filed a copy of the relevant portion of their estate document with the Foundation:
“The guys in my chapter helped me see that applying to law school was something that I could do and showed me how.” —Mark Williams, executive director of The Psi Upsilon Foundation and the Psi Upsilon Fraternity
John E. Boccaccio, Phi ’75
Jack Lageschulte, Epsilon Omega ’59
James S. Bradley, Tau ’63
Thomas A. Leghorn, Delta ’76
J. Martin Brayboy, Gamma ’84
William McPherson V, Phi ’71
Joan R. Brewster, Gamma ’86
Richard E. Meese, Phi ’78
David A. B. Brown, Epsilon Phi ’66
Robert S. Petersen, Omicron ’68
John F. Bush, Psi ’56 – Upsilon
Richard A. Rasmussen, Upsilon ’72
Joseph N. Di Nunno, Gamma Tau ’80
Donald S. Smith Jr., Xi ’39
Gerald P. Gehman, Omega ’61
Ralph E. Steffan, Tau ’51
The Estate of A. Price Gehrke, Pi-Tau ’43
Samuel S. Stewart, Phi ’56
LCDR John Gray USN (Ret.), Psi ’37
Samuel J. Tinaglia, Omega ’88
Charles M. Hall, Nu Alpha ’71 – Gamma Tau
Edgar H. Vant Jr., Chi ’57
Christopher W. L. Hart, Chi ’72
Howard C. Webber Jr., Phi ’56
James E. Heerin Jr., Tau ’58
Mark A. Williams, Phi ’76
Charles S. P. Hodge, Gamma ’68
William N. Wishard III, Delta Delta ’64
Douglas R. Jung, Tau ’73 John D. Kay, Delta ’78
For more information, call Executive Director
Andrew M. Kerstein, Delta ’76
Mark Williams at (317) 571-1833, Ext. 27.
Kevin A. Klock, Chi Delta ’01
Thank you for your support. Your donations—large and small—make a big difference.
© The Psi Upsilon Foundation and The Stelter Company
The information in this publication is not intended as legal advice. For legal advice, please consult an attorney. Figures cited in examples are for hypothetical purposes only. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results.
For more information, call or write: Mark A. Williams, Phi ’76 • Executive Director The Psi Upsilon Foundation • 3003 East 96th Street Indianapolis, Indiana 46240-1357 • (317) 571-1833, Ext. 27 Visit our website at www.psiu.org.