Saint Michael’s Experience Sparks Fire and Rescue Alumni to Create Estate Gift
As alumni Colin ’02 and Jessica ’04 Shea settled into their careers, their attention turned to their long-term financial future. With overarching goals in mind, they met with a trusted financial planner who asked them, “Do you want to include charitable giving in your estate plans?”
Saint Michael’s Experience Bolsters Careers
Colin (religious studies/computer science) and Jess (biochemistry) have stayed well-connected with the College since graduation, particularly with Fire and Rescue, of which they were both members. They lived in the Burlington area for several years after graduation, and although they now live in Maine, they still visit campus every year for the annual Fire and Rescue banquet. They look forward to catching up with old friends and meeting the current student members. For the Sheas, who enjoyed meeting local alumni when they were undergraduates, the student to alumni experience has come full circle.
Reflecting on how their campus experience has stuck with them, they emphasize how happy they were with their choices to attend Saint Michael’s. As the EMPROVE® Program Manager at MilliporeSigma—where she manages the portfolios for filters, single-use and chromatography products—Jess cites the College’s emphasis on diversity, travel and understanding of global cultures as crucial to her career success in the biotech industry. To explain, she describes a typical workday where she connects virtually with colleagues in India and Germany in the morning, colleagues in the US around midday and in Asia in the evening.
Colin credits the College with instilling the value of passing on knowledge and diverse communication skills both verbal and written. As a full-time Captain of Falmouth, Maine, Fire-EMS and a part-time senior staff instructor with the N.H. Fire Academy, these values hold particularly true. And as former Fire and Rescue members on campus, they both credit this experience with teaching them to operate under stress while maintaining the ability to make decisions.
Remembering Saint Michael’s in Their Estate Plan
The impact that the Saint Michael’s experience has had on their lives is apparent to Colin and Jess. From leadership opportunities in the Fire and Rescue community, to encouragement from the College to experience international culture, to curriculum and faculty relationships, they want to ensure that future generations of students have the opportunity to succeed on campus and beyond.
Through conversations with their financial planner, the Sheas discovered that they could provide for loved ones while still including charitable giving in their estate plan. They chose to set up a living trust for the protection it gives to a surviving spouse, the beneficial tax implications to the beneficiaries and because of the clear beneficiary structure. Choosing Saint Michael’s College as a beneficiary was an easy choice, as was designating a portion of their gift to Fire and Rescue.
To others who are considering an estate gift, they recommend finding a financial/estate planner who listens to your goals and works with you to accomplish them. They see estate planning as a total package for financial health, and one that allows them to provide for loved ones while still having a meaningful impact on local charities and on their alma mater.
Like the Sheas, you can protect your loved ones and make a difference for future Saint Michael's students with a gift in your estate plan. Contact Carla Francis at 802-654-2618 or cfrancis@smcvt.edu to learn more.
Information contained herein was accurate at the time of posting. The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. California residents: Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. Oklahoma residents: A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. South Dakota residents: Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.