Colonel John F. Naughton, USA (Ret.), L'66
Colonel John F. Naughton, USA (Ret.), L '66
"My education has served me well. Growing up in Coraopolis, Pennsylvania, I completed my undergraduate work at Washington & Jefferson College, then applied to and was accepted to the Duquesne University School of Law. After law school, it was my privilege and honor to serve our country as a United States Army Judge Advocate General Officer and Judge until my retirement following 30 years of service." Currently residing in the Washington D.C. area, John now utilizes his experience and training to teach trial advocacy classes at The George Washington University Law School.
"Since I received a full scholarship to the School of Law at Duquesne University, I felt an obligation to make some arrangement in my estate that would benefit Duquesne. After some reflection, it became apparent to me that a beneficiary designation of 50% of my IRA would be the most suitable gift. During my life, I still control and benefit from the IRA, but upon my death half of the remaining balance in my account is paid directly to Duquesne University for creating an endowed scholarship fund to benefit students at the School of Law."
A beneficiary designation from a qualified retirement account to a charitable organization like Duquesne University School of Law can help to avoid both the probate process and taxes that may be due upon death. Such designations can be accomplished by directing a percentage of the remaining balance in the retirement account or by naming a specific dollar amount to Duquesne.
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.