A Quiet Force for Good: Celebrating Kay Pickett

Kay was a powerhouse and she really enjoyed her visits for lunch to McDonald’s. She enjoyed visiting with the people working there, and she sure loved the food they served.”
—Harry Crowell

Sometimes, we learn that one person has chosen to make a very big difference in the lives of those she never met. Kathleen C. “Kay” Pickett is one of those truly remarkable souls who did just that for Ronald McDonald House families.

Born in Los Angeles and residing in her San Marcos home for more than 50 years, Kay was a retired educator who lived to be 98 years of age. She valued greatly a society that treated every living being with respect and care.

Kay’s longtime friends Roz and Harry Crowell note that Kay lived a simple yet fulfilling life, shared with people she loved and respected. At the same time, she took a keen interest in the stock market.

Harry observes, “Kay and I spent lots of time discussing events of the day and different types of businesses. With her kind of brain power, it was apparent why she became such a successful investor.”

After the passing of her husband, Oliver, Kay maintained her commitment to careful investing for the future—both her future and the future of close friends and 11 charities that she cherished. Her revocable living trust made sure that those priorities were honored.

Kay remarked to Harry many times how much the Ronald McDonald House made an impression on her. And now, Kay’s thoughtful philanthropy is having a tremendous impact in keeping families together and strong in their time of crisis, whether through an overnight stay, a meal, or moment of respite from the often-stressful hospital environment.

We celebrate Kay Pickett for her quick and insightful mind that allowed her to become the quiet “Millionaire Next Door.” We only wish we could have thanked her during her lifetime for what she is making possible today.

Please let us know…

If you have named Ronald McDonald House Charities of San Diego as a beneficiary of your estate plan, or are considering doing so, please let us know. We would love to express our appreciation for your support of our Ronald McDonald House.

We would also like to invite you to be recognized as a member of our Many Hearts Legacy Society. For more information, please contact Christina Jordan at 858-598-2461 or cjordan@rmhcsd.org.

Grantor Charitable Lead Annuity Trust

Provides income payments to a qualified charitable organization for a period of years, the lives of one or more individuals or a combination of the two; after which, trust assets are paid to the donor of the trust.

A power of attorney form that transfers ownership of stock.

Securities such as stock that are in certificate (paper) form.

Investments that have increased in value since the time of their purchase.

Testamentary means bequeathed through one's will.

A charitable bequest is one or two sentences in your will or living trust that leave to Ronald McDonald House Charities of San Diego 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 [insert amount, percentage of the estate, or 'the rest and remainder of my estate'] to Ronald McDonald House Charities of San Diego, Inc.

Federal Tax ID #95-3251490

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 the House 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 (CRT) provides income to you, as the donor of the CRT, or to other named individuals, and does so each year for life or for a period not exceeding 20 years. The remainder of the assets go to your chosen charity.

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 the House 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 the House 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 the House where you agree to make a gift to the House 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.