Deferred Giving Can Be a Win/Win Plan by Laure Stevens Lubin
"Please call me Jimmy -- Mr. Gallivan was my father," Jimmy Gallivan '51 warmly enjoins. Gallivan, who is spearheading his 65th Reunion Committee along with Ted Van Leer '51 and other members of the class, embodies the humor, warmth, humility and charm of the classic W&L alumnus. "Washington and Lee trains its graduates in a way to operate," he explains, "which of course is exemplified by the honor system. There is something indelible that comes from going to W&L." As well as serving on his reunion committee several times, Gallivan has been president of the Alumni Association Board and sat on the Board of Trustees from 1984-1994.
"Our 60th reunion was a huge success, and it was wonderful to see everyone who came back," he recalls. "It is so important to come back to the University to reconnect with the campus and with old friends. When you look up that hill from Lee Chapel toward the Colonnade, you are overwhelmed by warm feelings." His wife of 60 years, Joan Fisch Gallivan (Sweetbriar '56), whom he met through classmate Marcus Cook '51, agrees: "At this point I know that campus even better than my own, and every time I return it makes me want to go back to school all over again."
A number of years ago, to express their appreciation for all the many positive ways W&L has impacted their lives, the Gallivans created a Charitable Remainder Unitrust to support the Class of 1951 50th Reunion Thomas K. Wolfe Lectures Endowment. "Tom and I were in the same class and remain close friends, but he might rightly question the accuracy of anything I might say about him," Gallivan quips. He recalls that, even during their undergraduate days, Wolfe was a bit of a renegade. "It might be said that he was rather unconventional in conforming to the conventional dress rule," he suggests.
"The University has given us life-long friends and opened doors for us," continues Gallivan. "We graduated 65 years ago. At this age, it is time to start planning for a future when you will no longer be here," he reflects. "I felt a need to express my appreciation for the University, and I was fortunate to be able to do it in a way that allowed me a personal tax benefit. This was a win-win situation -- I avoided capital gains, and the University was able to sell the stock and reinvest it, providing me with an income stream. You also might consider including Washington and Lee in your will," Gallivan suggests. "These are two of many great ways to recompense the University for all it has done for you."