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Turgeon Thanks Mother by Establishing Scholarship

Future University of Mississippi nursing students will have an opportunity to receive support through a scholarship that Bob Turgeon established in honor of his mother.

Future University of Mississippi nursing students will have an opportunity to receive support through a scholarship that Bob Turgeon established in honor of his mother.

UM Alumnus Creates Nursing Scholarship Through CRUT

Rose Turgeon never had the opportunity to become a nurse. But her son is now giving that chance to others.

It's in honor of his late mother that Robert "Bob" Turgeon of Northridge, Massachusetts, has established the Rose Audet Turgeon Scholarship Endowment at the University of Mississippi. His gift of $100,000 through a charitable remainder unitrust will provide support for students enrolled in the BSN Pre-Nursing program at the University of Mississippi.

Stephen Monroe, assistant dean of the UM College of Liberal Arts, says the endowment will benefit not only deserving students but also the communities they'll someday serve.

"Bob Turgeon is enabling students to receive the education they need to launch their nursing practices," Monroe says. "His gift will have an impact throughout the state of Mississippi, enriching the health of its citizens."

For Turgeon, the fund honors his mother's memory, on his behalf and that of his late father, Joe and sister, Viola.

"This is about paying back my mother for taking care of the family," he says. "It wouldn't have been a family without her. She was the glue."

The daughter of French-Canadian immigrants, Rose Turgeon was born in Uxbridge, Massachusetts, and raised among seven siblings. She married and became a mother, then returned to work when her son started school.
"My mother lived a simple life," Bob Turgeon says. "My father was a factory worker. We didn't have a lot of money back then. But I would catch her making out little checks to charities from time to time."

Rose Turgeon worked in textile mills and for the state hospital. Her patient care work included nursing duties, but she was unable to seek the education needed to earn her the title.

Her son, meanwhile, finished Worcester Junior College. He met two teachers, graduates of Ole Miss. He'd already thought of returning to college; their charms sealed the deal.

Turgeon earned an Ole Miss degree and enjoyed varied careers, finally settling in the hotel and real estate industries. He ultimately retired from the U.S. Postal Service's Central Massachusetts Processing and Distribution Center.

Along the way, Turgeon made sound investments. He'd considered establishing a scholarship and, with his 80th birthday approaching, decided to act.

Learn How You Can Help
How will you begin your giving journey? Contact Sandra Guest at 662-915-5208 or sguest@olemiss.edu to learn more about charitable remainder trusts and other ways you leave a legacy at the University of Mississippi that honors a loved one.

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A charitable bequest is one or two sentences in your will or living trust that leave to the University of Mississippi 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

Bequest Language

"I, [name], of [city, state, ZIP], give, devise and bequeath to the University of Mississippi Foundation [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

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 Ole Miss 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 its 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 Ole Miss 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 Ole Miss 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 Ole Miss where you agree to make a gift to Ole Miss 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.

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