The Builder (CRUT)
John shows these commendable traits in many ways, one of which is a planned gift he made to benefi t his grandchildren and his church. John set up a Charitable Remainder Unitrust (CRUT), a gift that generates income for the donor's life, then to family or loved ones for up to 20 years, and ultimately supports a United Methodist church or ministry.
The Foundation manages the trust and pays John a percentage of the corpus, which is valued annually. Then, his two grandchildren will receive the income for 20 years, and ultimately, his church, Broadmoor UMC of Baton Rouge will benefi t in perpetuity.
To help the fund grow faster, John adds to it each year from the income it generates. The added gifts are tax deductible, as was the initial gift. And, the Foundation establishes the trust at no cost.
"I've already taken care of my children in other ways, so this is my way of helping out my grandchildren after I'm gone. We've always been close, even though they now live out of state. Every summer John Tyner since they were little, we've taken fi shing and hunting trips together," he says.
Like many in this "greatest generation," John is a World War II veteran and well invested in his community. At nearly 88 years old, he still works fi ve days a week in the insurance business he started in 1952. "I enjoy my work and I like people, so I continue to work," he says. Throughout his career, he served as a leader in his industry state and local associations and the Baton Rouge Junior Chamber of Commerce. He also served on the Foundation Board of Trustees and "in every capacity at Broadmoor except treasurer," he said. "I'm most proud of the fact that I have served continuously as an usher since 1957."
In high school, he was a soda jerk and a curb hopper at a drug store in his home town of Tallulah, La. In 1944, at age 17, he joined the war effort and served in the U.S. Navy on the USS Ticonderoga, an aircraft carrier. After his military service he attended LSU in Baton Rouge, and he earned a business degree in 1950.
John and his wife Louise were married for 62 years, until she died in 2007. They have two children, Tatsy and Johnny. John is leaving a legacy to support the family and church that he helped build through 57 years of service and commitment. The CRUT is the perfect estate planning tool that allows him to do that.