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This Aggie Couple Is Impacting Texas A&M’s Libraries and Achieving Their Financial Goals

Laura ’72 and Rolan “Mikeual” Perritt ’69 are writing stories of impact for the Texas A&M University Libraries through a tailor-made planned gift that combines multiple methods and assets.

By Lydia Hill ’21

Photography by Rachel Willmon / Illustration by Chad Hagen

For Laura ’72 and Rolan “Mikeual” Perritt ’69, the skills they developed and connections they formed at Texas A&M University have been one of the greatest influences in shaping their life stories.

After meeting and marrying in Aggieland, the couple launched careers that spanned decades in architecture-related roles for both the military and private sectors. By the time they retired, the couple’s experiences included time in Texas and Europe, various leadership positions with the U.S. Air Force’s civil engineer group for Laura, and a stint as the Air Force’s chief architect for Mikeual. 
 

Laura ’72 and Rolan “Mikeual” Perritt ’69 established a planned gift using a variety of methods and assets that will support the Texas A&M University Libraries after their lifetimes.

“Being an Aggie really made a difference throughout our careers,” Laura said. “When I was applying for one position early on, my boss saw my Aggie Ring, and that was all it took. I was hired.”

“I wouldn’t be where I am today if it hadn’t been for Texas A&M,” Mikeual added.

Now, thanks to a planned gift, the Perritts are supporting success stories for the Texas A&M University Libraries and the students who work and study there. Part of their gift, named in memory of their parents, will support the Libraries’ preservation efforts on topics related to Texas A&M, the Fightin’ Texas Aggie Band, Texas, and art and architecture across the state, while the remaining portion in their own names will support student workers involved with the Libraries’ special collections.

The gift is a combination of many of the couple’s passions. “Libraries have always been precious to me,” Laura said. “At Texas A&M, the library was where I studied, and it became a place of refuge.” In addition, the focus on preserving artifacts related to the Aggie Band and art connects to Mikeual’s experience in the band and lifelong interest in art, including his hobbies of fine arts photography and woodcarving.
 

“In deciding what to support at Texas A&M, I thought about all the former students who give back to the area they studied,” Mikeual said. “But the Libraries don’t have this same support because they don’t graduate students like the colleges do. We wanted to fill in some of those gaps.”
 

We don’t have a big estate, but we feel it’s important to spread our money around to other people who are less fortunate. We hope our support will inspire future students to do even greater things.
- Laura Perritt ’72

Throughout the process of creating their estate gift, the Perritts worked with the Texas A&M Foundation’s charitable planning team to craft a legacy that was right for them. “We have no children, so for us, giving to Texas A&M was the best option,” Laura explained. “We don’t have a big estate, but we feel it’s important to spread our money around to those who are less fortunate. And who knows what those students will do in the future? We hope our support will inspire them to do even greater things.”

 

A Custom Plan: Explore This Tailor-Made Planned Gift

With help from the Foundation’s charitable planning experts, the Perritts employed multiple giving methods to create a planned gift that was best for their circumstances.
 

Click to expand the sections below and learn more about each of the giving methodologies the Perritts used.

Bequest – 47%

A bequest through their living trust provides Laura and Mikeual a convenient and powerful option for impacting Texas A&M. One of the most popular planned giving methods, their bequest allows the Perritts the flexibility to continue using their assets during their lifetime and to make changes as needed. Their specific bequest designates the residual balance of their trust to support Texas A&M, but bequests can also give a specific dollar amount, percentage or asset to impact Aggies.

Beneficiary Designation – 33%

Through this method, the Perritts named the Foundation as the beneficiary of their retirement accounts. Many accounts pass with high tax burdens to heirs, but as a 501(c)(3), the Foundation will receive their assets tax-free after their lifetimes, ensuring the full remainder of their accounts will impact the Libraries. “Minimizing taxes was a big goal for us,” Laura explained.

To jump-start their impact and further increase their tax savings, Laura and Mikeual currently give a portion of their IRAs’ required minimum distribution directly to the Foundation each year through an IRA qualified charitable distribution to support areas including the Aggie Band and library student workers who assist with special collections and preservation. Funds given through a charitable distribution are not taxed, and they allow the Perritts to begin seeing their impact on Aggieland today.

Testamentary Charitable Gift Annuity – 20%

After their lifetimes, a portion of Laura and Mikeual’s trust will create a charitable gift annuity that will provide Mikeual’s sister fixed payments for life and benefit the Libraries after. “We wanted to support Mikeual’s sister but didn’t want to give the amount in a lump sum,” Laura explained. “The testamentary charitable gift annuity was a great option that will provide her consistent support in manageable amounts.”

   

 
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  • Planned Giving
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