Tom and Myra Kilgore Share The University of Alabama Dream with IRA Gifts

Tom and Myra Kilgore

Tom Kilgore’s dream since junior high school was to attend The University of Alabama. Through his estate plan, he and his wife Myra will make that same dream a reality for future students.

Growing up in Ider, Alabama, Tom didn’t even know what engineering was when a math teacher at his small high school suggested that he give the profession a look. That eventually led Tom to study engineering at The University of Alabama, where he graduated in 1970. Graduate school followed and then he had a successful engineering career culminating in his serving as CEO of the Tennessee Valley Authority.

All this was possible thanks in large part to Myra, who supported Tom during his studies—earning her the title “PhT,” which Tom says means “putting hubby through.” That’s why Tom’s planned gift includes support for a scholarship he established in Myra’s name. His gift will also endow a chair in the College of Engineering supporting a renowned professor and endow a scholarship in the College of Business in their daughter’s name.

Tom and Myra also support the University annually through Tom’s IRA required minimum distribution, which is an easy and tax-advantageous giving option, Tom says. The University is also the beneficiary of the balance of the IRA in Tom’s estate plan.

“Looking back on our years at The University of Alabama is always a fond memory,” Tom says. “This is a way of paying a return on the good times and good education that we experienced in Tuscaloosa.”

Tom urges his fellow alumni to consider making the University part of their estate plans.

“It is easy to do, and it makes financial sense because of the tax rules. It is a win for the donor and a win for the University,” he says.