Next Generation Entrepreneurs Plan Ahead

Tye and Courtney Caldwell

Tye and Courtney ’00 Caldwell include SMU in their will as a way to give back and support the next generation of entrepreneurs.

Tech entrepreneurs Tye and Courtney ’00 Caldwell move at a lightning pace. The dynamic couple propelled ShearShare, their mobile app that connects salon and barbershop owners to individual stylists looking to lease professional space by the day, into an international platform in a matter of months. So it’s no surprise that they have already included SMU in their wills.

Courtney graduated cum laude with a B.B.A. in marketing from the Cox School of Business. Thanks to the strong ties she maintains to her alma mater through membership on the SMU Alumni Board and other activities, Tye has become an enthusiastic Hilltop supporter, too. Their future gifts to the University reflect their commitment to service and leadership for a higher purpose.

As an SMU student, Courtney took a full schedule of classes, worked two campus jobs and competed in the long jump with the SMU track and field team. Courtney so enjoyed her experience as a Hunt Leadership Scholar that she now volunteers to interview final-round applicants. Today’s high-caliber students are impressive, she notes.

The importance of sharing good fortune with others was ingrained in Tye from childhood. While growing up, when he and his seven siblings earned money from odd jobs, they pooled their resources. At the end of the week, his mother would parcel out a measure to each of them. “You have to learn to divide” was her rule, a lesson he lives by. Tye went on to forge a successful career in cosmetology and has owned and operated Salon74 by Tye in Plano since 2002. A chance appointment at the salon brought the two together over 10 years ago, and they’re the proud parents of a young son.

Their combined talents—his success as a beauty industry entrepreneur and her experience in the marketing arena—made ShearShare an instant hit. Currently, salon station rental inventory in more than 250 cities in 10 countries is available via the platform. Despite the demands of their growing business, they always make time for what matters most: family, faith and their volunteer work in the community with disadvantaged youth and the homeless. SMU is high on their list, too, which is why they encourage other young couples to follow their lead.

“We truly believe that it’s important to leave people, places and things better off than when we found them,” Courtney explains, and establishing a planned gift at this stage in their lives helps ensure a bright future for SMU.

Tye adds, “When you think of the impact your planned gift can have, why wait?”

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A charitable bequest is one or two sentences in your will or living trust that leave to Southern Methodist University 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

"I give to Southern Methodist University, a nonprofit corporation currently located at Dallas, TX, or its successor thereto, ______________* [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 SMU 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 our 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 SMU 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 SMU 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 SMU where you agree to make a gift to SMU 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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