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Lifelong Learners Create Lasting Legacy

By Annie Rosello ‘94
Development Officer

Marius and Mildred Peladeau

Marius and Mildred Péladeau
Photo credit: The Courier Gazette, June 15, 2016

Decades ago, during the peak of their professional years, Marius ’56 and Mildred Péladeau of Readfield, Maine, decided that making a substantial gift to Saint Michael’s through their will would perpetuate their love of learning with future generations of students and secure their own legacy for years to come.

Marius always appreciated the education he received at Saint Michael’s, as it was the first stop on his impressive journey through higher education and beyond.

After graduating from Saint Michael’s, Marius earned master’s degrees from Boston University and Georgetown and penned or contributed to no less than ten books and thousands of scholarly articles and monographs with subjects as varied as artists, poets, architecture, antiques, Maine history and Vermont’s role in the Civil War.

Marius’s career was that of a true Renaissance man. A one-time reporter for the Burlington Daily News and the Lewiston Daily Sun, he served as press secretary for U.S. Congressman Joseph Vigorito during the Kennedy Administration. He worked with the National Park Service, the Order of the Cincinnati, and the National Trust for Historic Preservation.

Returning to Maine in 1972, he served as Director of the Maine League of Historical Societies and Museums and was later Director of the Farnsworth Art Museum. He was active in the conservation and restoration of the Union Meeting Hall in Readfield and completed a book about it just days before his passing.

Mildred was an expert and author on the history of rug hooking in Maine, lecturing at the American Folk Art Museum in New York City and writing the catalog for the American Textile History Museum in Lowell, Massachusetts. Both Mildred and Marius took great joy in their love of scholarship, history, art, and antiquities.

Marius was pleased with the education that he received at Saint Michael’s and especially admired professors Jeremiah Durick and John Donahue. He enjoyed his time on campus and retained fond memories throughout his life.

When it came time to draft their estate documents, the Péladeaus decided to honor their love of learning by making a significant gift to Saint Michael’s, the place that served as the foundation for Marius’s long and fascinating career. Mildred died in 2017, and Marius passed away in 2022.

After working with the executor of the Péladeaus's estate, Saint Michael’s received a $250,000 gift to the Saint Michael’s Fund, which may be used at the discretion of the Board of Trustees for the benefit of today’s Purple Knights. The Péladeaus's generosity leaves a lasting legacy on our campus; we give thanks for their extraordinary lives.

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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.

Learn What Matters

A charitable bequest is one or two sentences in your will or living trust that leave to Saint Michael’s College 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, bequeath, and devise to Saint Michael’s College, an educational organization established by law at One Winooski Park, Box 256, Colchester, Vermont 05439, whose Federal Tax ID number is 03-0179403 [here follows the dollar amount or percentage of the gift, or an accurate description of the securities, insurance policies, retirement funds, or the amount or percentage of the residual estate, or the real estate or other assets given].”

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 Saint Michael's College 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 Saint Michael's College 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 Saint Michael's College 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 Saint Michael's College where you agree to make a gift to Saint Michael's College 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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