July 18, 2012
Remember Peter Sauer: 1976-2012
STANFORD, Calif.- On July 8, the Stanford Athletics community lost Peter Sauer, a co-captain and starter from the 1998 NCAA Final Four basketball team. Meanwhile, his wife, Amanda, and their three young daughters lost a loving and devoted husband and father. Peter was 35.
Over the last week, numerous Stanford teammates, friends and supporters have since sought the means to contribute to the most important thing in Peter's celebrated life: his young family. Peter's coworkers at Bank of America Merrill Lynch have established trusts to support his wife and daughters following his tragic death, and Stanford Athletics is proud to share this information broadly with the Cardinal community.
Three separate trusts have been established, one for the benefit of each child, the primary purpose of which will be to provide each child (Cate, Charlotte, Cassie) with the finest education possible and to secure their futures. As the funds are received, they will be distributed in equal shares to each of the three trusts.
Please make checks payable to "Sauer Children's Trust LLC" and send to:
Attn: Gina Hernandez
540 West Madison Street, Suite 2020
Chicago, IL 60661
(Please note account number "2BL-02049" in the memo section on the check.)
Bank of America, N.A.
100 West 33rd Street
New York, NY
(International Wires Add: Swift-BIC #BOFAUS3N)
Account Number: 6550113516
Account Holder: Merrill Lynch
For Further Credit to/For the Benefit of:
Merrill Lynch Account Name: Sauer Children's Trust LLC
Merrill Lynch Account Number: 2BL-02049
Questions can be referred to:
Gina M. Hernandez
Senior Private Wealth Associate
Ver Bockel/Raihle Group
Merrill Lynch Private Banking and Investment Group
540 West Madison Street, Suite 2020 | Chicago, IL 60661
W: 312.325.2639 | F: 866.304.3610
Please consult your own tax advisors; however, see below for a description of certain tax matters as provided by counsel to the trust.
The annual gift tax exclusion permits you, individually, to give tax free in each year the sum of $13,000 to any number of individuals. If you are married and your spouse consents to applying his or her annual exclusion amount to each gift, you can give the sum of $26,000 to any number of individuals. Since there are three different trusts, the annual gift tax exclusion permits you, individually, to give tax free in each year the sum of $39,000 to be shared equally by the three trusts. If you are married and your spouse consents to applying his or her annual exclusion amount to each gift, you can give the sum of $78,000 to be shared equally by the three trusts. Gifts to any one individual in excess of the annual exclusion amount may be sheltered from federal gift tax by the lifetime exemption. Again, we urge that you consult your individual advisers on these tax related matters.