Gift & Estate Planning

Gracie and Barry Phillips

Gratitude Inspires Two Legacy Gifts

Married nearly 53 years, Barry and Gracie Phillips have enjoyed raising their four children, traveling the world and contributing their time and talents to their community, their professions and their beloved alma maters. Gracie, who graduated from Agnes Scott College in 1955, and Barry, who graduated from the University of Georgia in 1949 with an AB and in 1954 with an LLB, have long been actively involved with their alma maters, serving as advisors, trustees and honored alumni.

The Gratitude
Barry and Gracie have supported all that each other endeavored to accomplish. They credit their achievements to the opportunities made available to them by others. Barry received a football scholarship to attend UGA. Coach Quinton Lumpkin, who became a great friend and mentor to Barry, made it possible for Barry to keep his scholarship through his undergraduate program and begin law school in exchange for implementing and directing a tutoring program for other athletes. After serving his country in the Korean War, Barry returned to UGA to finish his law degree. Barry excelled in his chosen profession and has spent most of his career with the Kilpatrick-Stockton law firm, which has a long history of generous support to the University of Georgia and its law school. The firm gave Barry an opportunity early in his career and the tools with which to succeed.

The Giving
In 2003, Barry and Gracie created their first charitable gift annuity at the University of Georgia, establishing the Quinton Lumpkin Football Athletic Scholarship in honor of Barry's dear friend and mentor, Coach Lumpkin. Barry says, "I felt it was a good way to repay what I was given and help some other people as they come along. The process for creating a charitable gift annuity is very simple and is a win-win situation for both the donor and the charitable institution."

In 2006, Barry and Gracie chose to create a second charitable gift annuity at UGA in honor of Kilpatrick- Stockton. This fund will provide scholarship opportunities for aspiring attorneys. "The motivation for creating these legacy gifts is purely to give back in appreciation for the opportunity Barry had to attend the University of Georgia and in appreciation for the opportunities his successful career provided for our family," Gracie says.

A charitable gift annuity is a simple contract that provides payments for life and a current partial tax deduction for the donor, while making a gift that will benefit the University of Georgia. Like Barry and Gracie, if you are considering a legacy gift, a gift annuity is an excellent way to honor others while supporting the University of Georgia and benefiting, too. For more information on charitable gift annuities or other legacy gift options, please contact the University of Georgia Office of Gift and Estate Planning.

The information in this website is not intended as legal advice. For legal advice, please consult an attorney. Figures cited in examples are for hypothetical purposes only and are subject to change. References to income tax apply to federal taxes only. Federal estate tax, state income/estate taxes or state law may impact your results.