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Patricia Duffy, Friend


Patricia Duffy, Friend

Patricia Duffy truly understands the importance and benefits of a Duquesne University education. Her husband, the late Michael J. Duffy, Sr., graduated from the McAnulty College in 1958. His father, Edward "Leo" Duffy, B '27, L '30, and Michael's brothers, Edward L, Duffy, Jr., B'71, and Roger K. Duffy, B '54, who was a Spiritan priest, and Michael's sister, Mary Ann Duffy Stewart, E'70, counted themselves among Duquesne's distinguished alumni as well. At the time that Patricia's children were gearing up for college, nieces and nephews of "Holy Ghost fathers" could attend the University with a full tuition waiver. All five of Patricia's children attained degrees from Duquesne thanks to their uncle, Father Roger Duffy.

In choosing to name Duquesne University as the beneficiary of her charitable remainder unitrust ("CRUT"), Patricia said: "My late husband Michael and I considered that we owed a bundle to the Holy Ghost fathers and Duquesne University for educating our five children. Establishing this CRUT was one way that we could begin to repay or pass along to others what had been provided to us. I have 13 grandchildren and while not all will attend Duquesne, I suspect that some will continue the family tradition."

In discussing the benefits of a CRUT, Patricia shared that "the property I used to fund the trust was subject to some severe taxation. The CRUT was a tax efficient way of disposing of certain real property and providing a lifetime income for me. The easiest part of the process was naming the charity to receive the trust remainder following my lifetime. Duquesne University was my first and only answer. One hundred percent of the trust value will transfer to Duquesne tax free upon my death. I think that all parents of Duquesne University students who benefitted from the Holy Ghost scholarships should do something like this trust to pay back the benefit they received."

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