Tim Richards Uses IRA Beneficiary Designation to Support South Kent’s Mission
For Tim Richards ’75, South Kent has always been central in his life. The son of faculty, Tim grew up on campus, attended as a student, and later returned to serve as a trustee. That lifelong connection has now inspired him and his wife, Meg Clarke, to designate South Kent as the beneficiary of his IRA—an act that will strengthen South Kent for generations to come.
An IRA beneficiary designation is a “straightforward and efficient” way to make a planned gift, Tim says. “It bypasses probate, allows me to designate South Kent as either sole beneficiary or one of several, and the value of the gift grows as the account grows.”
Tim’s time as a member of the South Kent Board of Trustees showed him the importance of growing the endowment while also supporting immediate needs. “I want South Kent to remain a strong and enduring institution,” he says. “My hope is that this gift not only strengthens the School financially but also serves as an example that encourages others to do the same. By building the endowment and supporting immediate needs, we ensure the mission thrives for generations.”
Tim’s gift was inspired by his parents, who regularly gave anonymously to South Kent. They gave using their required minimum distributions from their retirement accounts, which Tim calls his first real experience with planned giving.
South Kent provided Tim with leadership and public speaking skills and the ability to work with others—qualities he carried into a career in government affairs with GE that spanned more than two decades, including five years in Abu Dhabi. Now he hopes other alumni will follow his lead by making South Kent part of their estate plans.
“It’s not difficult,” Tim says. “Setting up a planned gift like this can be done in a short amount of time, often without legal advice, and it makes a significant impact. Now is the right time. South Kent is experiencing an exciting period of growth and renewal. Alumni who benefited from this place should step up to secure its future.”
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