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L E A V I N G Y O U R L E G A C Y A T C A M B R I D G E

I N T H I S I S S U E

Ernest Woodacre, Downing College 1950A Remembrance

A Note from the Planned Giving Team

Wise Tax Planning

1209 Society Luncheon with Professor David Reynolds

Qualified Retirement Plans, such as a 401(k) or IRA, are among the most tax-burdened assets you own. In fact, when passed to heirs, taxes can amount to as much as 50 percent or more of the account’s value, as these assets are subject to income taxes, in addition to estate and generation skipping taxes.

For this reason, when considering charitable giving as part of your estate plans, it can be fiscally prudent to consider retirement assets. The charity, such as Cambridge in America, is not subject to tax and thus receives 100 percent of the asset’s value. When incorporated into a smart estate plan, the charity and your heirs both can benefit.

In addition, making a charitable gift from your retirement plan is easy and usually does not involve revising your will, but rather simply naming the charity(s) of your choice on your plan’s beneficiary form. No lawyers need to be involved and no trusts need to be created. Furthermore, you maintain current control over your assets and the charity becomes the long-term recipient.

Charitable gifts of retirement plans can maximize your bequest

Wise Tax Planning

Each week we speak with alumni and friends seeking to make a meaningful difference to Cambridge for years to come. One of the most common misconceptions about estate planning is that it may be a painful and burdensome process. On the contrary, basic tools provide clear planning guidance for the vast majority of estates and ensure that you can benefit loved ones while rewarding the charitable organizations, like Cambridge and its Colleges, that you have spent your lifetime supporting.

We hope that this issue of 1209 Notes is helpful in suggesting some ways you can easily go about making charitable designations in your estate plans, and we thank you for your continued support of Collegiate Cambridge. We are happy to help you explore opportunities for realizing your personal and philanthropic goals and invite you to contact us to talk about the role charitable giving might play in your estate plans. For more information about taking the next step, contact us by phone or email, or return the enclosed card.

Thank you for considering your own commitment to Cambridge’s future.

Liz Truslow • elizabeth@cantab.org Director of Principal & Planned Giving

Sarah Shevchik • sarah@cantab.org Assistant Director, Planned & Leadership Gifts

Liz Healey • liz@cantab.orgPrincipal & Planned Giving Assistant

A Note from the Team

Ernest E. Woodacre (Ernie) had a special place in his heart for Cambridge University and Downing College. Along with his aca-demic studies in Engineering, his three years brought happy memories as goalkeeper for the Cambridge University football team. He was extremely proud to live on a staircase in the grounds along with his esteemed fellow athletes. Most of all, he loved to joke about the occasional missed curfews where he found himself climbing over the college gates – only to find a porter greeting him with a smile and sardonic question: Mr. Woodacre, again?

In 1953, Ernie’s excellent education and dedica-tion to his studies opened the door of oppor-tunity to work for the DuPont Company in the USA. Following a number of assignments, both domestically and internationally, Ernie rose to serve in several senior-level positions including Director of Environmental Affairs and Group Director with Remington Arms, Explosives and Engineered Products Divisions.

While remaining forever devoted to his British heritage, Ernie took pride in having become

a citizen of the United States. He traveled to England on several occasions for both busi-ness and vacation. In the early 1990’s, we paid a visit to Downing College where he proudly shared his special memories and the beauty of the grounds.

It is an honor that Ernie’s legacy will live on in a place that he dearly loved by naming a room in the new First Court Development at Downing College, The Ernest Woodacre Room.

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Ernie passed away in February 2014, at the age of 83. His legacy was a bequest to Cambridge in America, which he wished to be allocated to his college, Downing. The college has recently begun redeveloping an existing building to expand student accommodation, and by remembering Downing in his estate plans, Ernie has helped to ensure that future generations of talented students will have modernized accommodation on domus. A student room created during the refurbish-ment will be named in his memory.

by Margo Woodacre, widow of Ernest Woodacre (Downing College 1950)

Why we give to Collegiate Cambridge

Margo Woodacre and Ernest Woodacre (Downing College 1950). Photo courtesy of Mrs. Woodacre.

Making a bequestMaking a life income gift (e.g. Trust)Making a gift of life insuranceMaking a gift of a qualified retirement plan

292 Madison Ave. Eighth FloorNew York, NY 10017

Telephone: 212.201.0778 • Email: plannedgiving@cantab.org

Cambridge in AmericaOffice of Planned Giving

I am considering a provision for Cambridge in America in my estate plan and I would like information about the following:

I have already included Cambridge in America, the University of Cambridge, or its constituent Colleges in my will/estate plan and I have not previously notified you.

Please send me the membership information for the 1209 Society.

NAME

ADDRESS

CITY STATE ZIP CODE

TELEPHONE

EMAIL

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www.cantab.org/PlannedGiving

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The 1209 Society honors and acknowledges the many generous donors living in the US who recognize the importance of Cambridge and its 31 Colleges through their estate planning. Each College has its own legator society to which US legators are also welcome to join.

1209 Society membership benefits include:

• Invitation to an annual event• 1209 Society membership certificate• Formal acknowledgment in the Roll of Honor, a leather-bound volume held in Cambridge

The 1209 Society

Members of the 1209 Society gathered this September in New York for the 11th Annual Luncheon.

Professor David Reynolds, Fellow of Christ’s College and Chair of the History Department at Cambridge, spoke to 1209 Society members and their guests about his recent book, The Long Shadow: The Great War and the Twentieth Century.

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Remember CambridgeLeaving your legacy at Cambridge

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Cambridge in ameriCa292 Madison Avenue, 8th Floor

New York, NY 10017

Leaving your legacy at Cambridge

Visit our website www.cantab.org/PlannedGiving to learn more about bequests

and life income gifts

Produced by Cambridge in America’s Communications Office. For address changes, call 212.984.0960 or email mail@cantab.org