David Manch '70 was sitting in the student lounge in the basement of the Law School's old Eagle Street campus. It wasn't bright; it wasn't fancy. In walked Professor Ken Joyce, then in the early years of his teaching career. "Professor Joyce!" Manch said to him. "Welcome to our hovel."
When they spoke by phone more than 40 years later, Joyce remembered that story. Good students leave an impression.
And good teachers, of course, can change lives.
The paths of student and teacher have crossed again now that both have entered retirement. Manch has made a major gift to establish the Professor Kenneth F. Joyce Excellence in Teaching Fund. The endowed fund will foster great teaching by making it possible for Law School instructors to enhance their teaching skills, for example funding their attendance at teaching seminars or to watch skilled teachers in action.
"It's time for me to give back," says Manch, who built his law career on the tax and ERISA aspects of qualified retirement plans, along with estate planning and wealth transfer.
"I got this license to practice law, and I've been able to do pretty well over 35 years, and I owe it to those who provided me with the tools to fashion that career."
He also knew that he wanted to recognize Joyce's influence on the thousands of students who learned the intricacies of tax and estate law in his courses.
"Anybody who had Ken Joyce remembers him," Manch says. "He had the remarkable ability to teach with intense enthusiasm, and he had an incredible mastery of his subject matter. That combination of enthusiasm and mastery made it really special."
Not that it was always smooth sailing. Manch tells another story about the day in his second-year Gratuitous Transfers class when somebody just didn't get it.
"There are always a couple of people who don't pay attention and ask too many questions," he says. "And somebody was going on and on, and Professor Joyce — who is extremely kind — was going over it again, and under my breath I'm saying, ‘Why doesn't that guy shut up already?' Professor Joyce looked at me and said, ‘Mr. Manch, get out of here.' I think I'm probably one of the only students who was asked to leave a class for discipline reasons at the Law School."
But he came back, and found himself intrigued by the way tax law yields to creative and thoughtful analysis.
"Tax is really a very different discipline in the law," says Manch, who spent 13 years with the Buffalo law firm Hodgson Russ and the balance of his career with the Phoenix-based firm Lewis Roca Rothgerber Christie.
"It's highly statutory, as opposed to having developed over hundreds of years through common law. I quickly realized that that's what I wanted to do. I like the intellectual challenge of it, and I liked that I could spend time dealing with clients directly, not just dealing with other lawyers. Ken taught tax in such a way that you could really understand the principles behind things."
Thinking about how to give to the Law School in a meaningful way, and after discussing the possibilities with his longtime friend and former partner, Dianne Bennett '75, he saw an opportunity to ensure that the next generations of future lawyers will benefit from the same effective teaching he experienced half a lifetime ago. And such mentoring will pay tribute as well to Joyce's own apprenticeship with legendary Buffalo Law tax professor Lou Del Cotto.
"SUNY Buffalo Law School has always recognized the importance of the classroom," Joyce says. "The establishment of this fund, made possible by David's thoughtfulness and generosity, is yet another demonstration of the school's dedication to improving the educational experience of its students and the resulting benefit to society."
The fund is being seeded with Manch's $25,000 initial donation and a further gift of $100,000 as a bequest. Others who have benefited from Joyce's teaching, or who have an interest in furthering great teaching, are invited to contribute. Simply visit www.buffalo.edu/giving or contact Ms. Wendy M. Irving at (716) 881-7484 or firstname.lastname@example.org.
The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.
A charitable bequest is one or two sentences in your will or living trust that leave to the University at Buffalo 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, devise, and bequeath to the University at Buffalo Foundation, Inc., a nonprofit education corporation, headquartered in Buffalo, New York, the (sum of $_____) or (_____% of my estate) or (the property described herein) or (the remainder of my estate) to benefit the University at Buffalo."
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 University at Buffalo or other charities. You cannot direct the gifts.
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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 the University at Buffalo 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 University at Buffalo 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 University at Buffalo where you agree to make a gift to the University at Buffalo 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.