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Jody and O.P. Portu

Reflections of "Lifer" Parents

Jody and O.P. PortuAs parents of two boys who began in preschool (Jeffrey '08 and Michael '12), Jody and O.P. Portu have shown their support for Breck in any number of significant ways. They've been involved parents, active volunteers and generous donors, and they've set a strong example for their sons all along the way.

They didn't necessarily intend to be lifer parents. "When Jeffrey started in Breck preschool we weren't necessarily expecting that he'd be here all the way through," Jody says. "But he was so happy from the start that we wanted to see if it was the right school for Michael too. And it has been."

"From our very first visit, we were impressed with Breck's diversity. The community includes people from so many different economic, racial and religious backgrounds," adds O.P. "That's not just important in a school. It's good preparation for life."

The Portus have made volunteering at Breck a priority. O.P. has been President of the Board of Trustees and Jody is a past president of the Parents Association. Together, they've chaired the Annual Fund. The value of giving their time is a lesson they both learned growing up. "Our parents really took the time to explain to us why volunteering is so important," they say.

And they've made sure to teach the same lesson to their children. "At Breck, it starts early," Jody observes. "From serving as biddies to setting up cots for preschool naps, our kids learned from the minute they walked through the doors."

Older son Jeffrey has continued his commitment to service at Boston College where he's deeply involved with the admissions office and the Red Cross. "Breck prepared him so well for college," says Jody. "He understands how to balance academics, service and friendships."

For the Portus, financial support of Breck has also been important. "The education of our children is one of our top priorities," they say. And including the school in their estate plan is another way the family shows its support. "We're happy that we can help further the mission of this wonderful school and want to see it thrive for future generations as well."

A charitable bequest is one or two sentences in your will or living trust that leave to Breck School a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

"I give [the sum, percentage, or description of property] to Breck School, Golden Valley, Minnesota, to be used ['where it is needed most', or 'for the endowment', or 'for the ____ program endowment', or 'according to my written instructions on file with Breck School']."

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to Breck School or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to Breck School as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to Breck School as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and Breck School where you agree to make a gift to Breck School and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

Personal Estate Planning Kit Request Form

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eBrochure Request Form

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