Chapel Hill, N.C.
Neilson Brown, a second-generation alumnus of SKS (his father, Hobson, ’34), has been an active volunteer of South Kent School for more than 25 years. He is a former chairman of the Board of Trustees. Neilson earned his bachelor’s degree from the University of North Carolina, and an MBA from Wharton. He believes in planned giving.
He and his wife Mary have included South Kent School in their estate planning. Neilson has established a specific nominal bequest in his will for SKS. Together they have agreed to name the School as a residual beneficiary of his IRA; SKS will receive a significant percentage of the then remaining principal.
Quoting Neilson, “Because of the double taxation of IRA benefits in a decedent’s estate, individuals should look first to their retirement plans, when considering a bequest to South Kent School, and leave other assets to their heirs. It’s almost a no brainer given the tax bite involved otherwise.”