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| Charitable Remainder Trust Accomplishes All Objectives |
Following in the footsteps of his father, Dr. Charles C. Drace Jr. graduated from Saint Louis University School of Medicine in 1939. His father was a 1900 graduate of the Marion Sims-Beaumont College of Medicine, the forerunner of Saint Louis University School of Medicine.
For more than 43 years, Dr. Drace worked as a general surgeon in private practice and was a staff member of several St. Louis area hospitals. In addition to his distinguished career in medicine, Dr. Drace also pursued other civic interests and hobbies. He served on a committee that founded the city of Town and Country, Missouri, in 1950. He also was an avid horseman who raised horses on his "mini-ranch" in Town and Country.
Following Dr. Drace's death in 1998, his wife, Marilyn, funded a charitable remainder unitrust with their Town and Country home and surrounding acreage. The trust provides lifetime payments to her and will ultimately create the Dr. and Mrs. Charles C. Drace Jr. Endowment Fund for the general support of the School of Medicine.
 The real estate, which initially funded the charitable remainder unitrust, was subsequently sold by the trust to the City of Town and Country. The city developed the property into Drace Park, a 9-acre public space that features walking trails, gazebo, playground and two pre-Civil war log cabins.
Mrs. Drace is a resident of St. Louis and Wellington, Florida, where she is an avid polo fan. She attended the University of Georgia and for many years worked as a broker and vice president for the Stifel Realty Company in St. Louis County. In addition to polo, her interests include participation in the Freedoms Foundation of Valley Forge, Daughters of the American Revolution and a women's investment group called the Investa Gates.
"In as much as it was my husband's desire to contribute to the research efforts of the School of Medicine at Saint Louis University, I wanted to fulfill his wish as much as possible," Mrs. Drace reflected. "I found an opportunity to do so when our house and property became too much of a burden to maintain. I knew that the real estate was going to the University and discovered that the charitable remainder trust would accomplish all of my objectives. I was relieved of the responsibility for maintaining the home and land and now receive lifetime payments from the trust. In addition, the residents of Town and Country can enjoy the park and the University benefits as well. It is a happy feeling."
For more information please select one of the following options:
1. If you would like to view a color presentation of a similar plan, please click one of these buttons.
2. If you have property and would like to see a color illustration with your property value and your ages, then please click here.
3. If you would like to request a printed illustration of a Tax-Free Sale with your payout rate, then click here.
4. You may print a unitrust tri-fold brochure. The Sum of Objectives Realized or The Tax-Free Sale.
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