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Meaningful Memorial Gifts from Siblings

Sehrt siblings with their mother

Siblings Clement Tricon "Tric" Sehrt, J.D. '71 and Gretchen Sonja Sehrt with their mother, Norris Tricon Sehrt

Memorial gifts offer donors a thoughtful way to remember loved ones and make a lasting contribution to Loyola University New Orleans' mission and students. In 1987, siblings Clement Tricon "Tric" Sehrt, J.D. '71 and Gretchen Sonja Sehrt established a scholarship for law students in honor and in memory of their beloved parents—their father, Clem H. Sehrt, J.D. '32, a prominent attorney and former Louisiana banking commissioner, and their mother, Norris Tricon Sehrt, an owner of a family business.

Both Gretchen and Tric continued to support the Clement H. and Norris Tricon Sehrt Law Scholarship Fund through planned gifts. By giving together, their gifts have had a greater and more meaningful and lasting impact.

Approximately $3.1 million from Tric's testamentary trust were directed to the scholarship. Tric, like his father, was a Loyola law graduate. Following law school, he worked as a staff attorney for Senator Russell Long in Washington, D.C. He returned to New Orleans in 1974 to run the family business, R.J. Tricon Co., and continued to practice law. He served on the board of directors for Liberty Bank of New Orleans and was an active member of the American Bar Association and the International House, as well as numerous community organizations.

Gretchen also left a very generous $1 million bequest, which will be added to the corpus of the Sehrt scholarship. Gretchen was an international model and interior designer. She also was a steadfast supporter of a wide variety of national and local causes, including Loyola. After graduating from Ursuline Academy, she moved to New York City to attend modeling school.

She modeled in New York and Europe for some of the most famous designers in history, including Coco Chanel. After returning to the states and getting married, she continued her successful modeling career, first in Chicago and then in Houston. While in Houston, she started Gretchen's Designs, Ltd. After living in Chicago and Houston for over 20 years, she returned to New Orleans in 1989.

Throughout her life, she enjoyed her travels abroad, antique home furnishings and one-of-a-kind jewelry pieces. She remained actively engaged in her family's real estate and investment holdings for several decades until her son became the principal partner over the Tricon Sehrt business ventures.

Not only did Tric and Gretchen Sehrt honor their beloved parents through their commitment to keeping the family business thriving, but they also did it through their meaningful memorial gifts made to Loyola. The Clement H. and Norris Tricon Sehrt Law Scholarship Fund supports academic scholarships for talented law students and has benefited countless students over the years since it was founded. With Gretchen's and Tric's generous donations through planned giving, the endowed memorial fund will continue to provide scholarships for generations to come.

Like Tric and Gretchen Sehrt, you can honor a loved one with a memorial gift and continue its powerful impact on future students through a gift in your will or estate plan. To learn more, please contact Kevin Maney at 504-861-5442 or kmaney@loyno.edu.

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Information contained herein was accurate at the time of posting. 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 any 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. California residents: 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. Oklahoma residents: 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. South Dakota residents: Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.

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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 Loyola University New Orleans 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 Loyola University New Orleans where you agree to make a gift to Loyola University New Orleans 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.
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