Charitable Remainder Trust

The late Peter S. Westine ’58 came to Peddie as a junior and immediately found himself thriving. After winning the Rensselaer Award for Excellence in Math and Science and graduating cum laude in 1958, Peter attended Swarthmore College where he met his wife, Patricia. He graduated in 1962 with a bachelor’s degree in civil engineering and was awarded a McMillan Fellowship for his master's at Cornell University in 1964. Peter credited his teachers and coaches at Peddie for helping him to find his passion for engineering and for helping build the foundation for his cutting-edge career.

In 1999, Peter and Pat joined the Bell Society by creating The Peter and Patricia Myers Educational Trust with themselves as co-trustees. Five percent payments continue on to Pat, since Peter passed away in 2008. Ultimately, the trust corpus will be divided between Peddie and two other educational institutions.

“We believed this gift arrangement was a way to honor the excellent teachers and coaches from Peddie who influenced his life,” says Patricia. “Peter and I found a perfect opportunity to remember his mentors whom he praised later in life, by using highly appreciated stock to generate lifetime payments and a charitable deduction. The charitable remainder trust was an important form of 'giving back' both from our standpoint and the school's."