Margot Hawley Spelman '53 Says Thanks with Gift That Saves Taxes

Margot Hawley Spelman '53 was doing fine in public school in New York and was a little surprised when her father told her he wanted her to go to school 90 miles away for grades 10-12. Now the retired teacher is grateful for her dad’s decision and with her husband Hoyt is including Miss Porter’s School in a charitable remainder trust that will save them taxes.

“I was in public school in Scarsdale and quite happy there, but my father wanted me to broaden my horizons—and that’s exactly what happened,” Margot says. “I made friends with other students from all over the country and the world. Getting away from my hometown gave me a new perspective. The teachers were excellent and so were the activities.”

Margot took Spanish at Miss Porter’s and went on to major in it at Smith College. She earned a master's degree in teaching at NYU and for more than 50 years was a learning specialist in Manhattan. Her husband, meanwhile, graduated from Yale and was publications director for The New Yorker magazine. Now both retired, they live in Manhattan and enjoy their four grandchildren.

The trust with Miss Porter’s was primarily funded with appreciated stock. “It was not at all difficult to set up,” Margot says. “The tax benefits are part of what drove us to do it.” Donors receive an income-tax deduction the year the trust is established and also avoid capital-gain tax on the stock.

“I want to give back for all they gave me,” says Margot, who returns to Miss Porter’s for reunions and also has served on the alumni board. “Public school was fun, and I was always a good student. But at Miss Porter’s I had to study—and I found I really loved it. That started me on a love of and a quest for learning that was, and remains, very fulfilling."