CAROLINA PROFILES IN GIVING " 1 wanted the children to have their parents remembered this way. " - DR. CLARENCE M. Mn-LER
What a way!
Growing up in Wallace, N.C., Clarence Miller
(AB ' 43, CMED ' 44) always wanted to go to Carolina.
And he did - twice.
He enrolled as a freshman in 1939, lived in Ruffin
dorm, had a great time playing every sport he could,
and then entered Carolina's two-year medical program. (He finished his M.D. degree at Jefferson
Medical College in Philadelphia.)
In 1951 he returned to Chapel Hill as a teaching
fellow in pathology. He was invited to stay on at the
new N.C. Memorial Hospital, but Dr. Miller decided
to settle with his young family in Sewickley, Penn., a
suburb of Pittsburgh.
A decade later Dr. Miller made a terrific investment. He started a private pathology lab to serve
doctors in several nearby communities. His lab was
later bought out by a regional lab, and that lab in turn
was acquired by Corning.
In 1993 Dr. Miller's first wife, Eleanor, died. He
retired from practice, remarried, and made a new
estate plan - including a wonderful gift funded with
Dr. Miller set up a charitable remainder trust that
will provide income to him and his wife, Betty Ann, for
their lifetimes. At the end of their lives, the remainder
of the trust will go to the UNC Medical Foundation to
endow the Clarence M . and Betty Ann Miller
Distinguished Professorship in Diagnostic Pathology
and the Clarence M. and Eleanor Y. Miller Loyalty
Fund Scholarship for deserving medical students.
"I did this for the children," he says. (He and
Eleanor had three, including Richard Miller ' 73.) He
also did it for Carolina
medical students, to
provide them excellent
Clarence M. and Betty Ann Miller
teaching and help them with medical school expenses.
Dr. Miller had intended to leave a bequest until
he realized that he could give now. The trust has
increased the income to himself and Betty Ann over
the amount provided by the Corning dividend. The
trust also will keep providing income for Betty Ann,
should he predecease her. There was no capital gain
tax on the transfer of the stock to the trust, and the
gift will reduce the Millers' estate tax liability. It's a
great situation, and the Millers can enjoy it right now.
To plan a gift that benefits Carolina and you,
please call June Steel at 919-962-3439 or visit the
give to the Medical Foundation, call Jane McNeer,
M ay/Jun e 2 00 2