Kent & Donna Kleinkauf – Remembering Family and Community
By: Lisa Sahady, Regional Director
A life well-lived doesn’t have to end. With careful planning, treasured family experiences can continue through a memorable legacy. One such legacy, the Kleinkaufs’, provides inspiration for all.
Kent and Donna Kleinkauf met in 1948 while Kent was studying at the University of Northwestern Medical School and Donna worked at Harris Trust & Savings Bank. Both knew they had met the person they would spend the rest of their lives with.
In July 1948, they married and shared a wonderful life together for 62 years. At the time of their marriage, Kent was enlisted in the U.S. Army in a special program training doctors to serve abroad. This program would also connect Kent to the U.S. Air Force; he was a proud veteran of both branches. As Kent and Donna began raising their family, they also traveled around the world.
Following Kent’s time in the military, the Kleinkaufs settled in Illinois, where Kent ran a private practice from 1956 to 1976. In 1976, Kent joined the VA Hospital in Prescott, AZ. By this time, both of their daughters were adults and living on their own. It was the perfect time for Kent and Donna to set out on their next adventure. They established their home in Prescott and became active in the community. Both Kent and Donna loved to serve and make lifelong friendships.
With their children and the Prescott community in mind, Kent and Donna created a Charitable Remainder Unitrust (CRUT) in 1997. A CRUT is an estate planning tool that is a tax-exempt, irrevocable trust. A CRUT will provide income to one or more beneficiaries for a specific amount of time, with the remaining assets going to a designated charity. A key feature of a CRUT is that the income distributed to the beneficiaries is a fixed percentage of the trust’s assets that is reviewed annually.
Kent and Donna were thinking of their daughters when they created their CRUT and named the Arizona Community Foundation as the designated charity. Working with ACF, they created a donor advised fund with their daughters as the fund advisors. Donna passed away in 2010, leaving Kent as the sole trustee of their CRUT. When Kent passed away in 2015, their donor advised fund came to fruition. For the past 10 years, their daughters have made grants to their favorite charities. Each year, they get to remember their parents in a very meaningful way.
Contact Lisa Sahady at 928.583.7815 to discuss how ACF can help you turn your philanthropic passions into community impact. Please consult with the appropriate professional for your estate planning. Information contained in this article is not intended as legal advice. Please contact an appropriate professional to answer questions regarding the creation of a will or trust.