LEGACY GIFTS

 

Planned Gifts – Financial Tools to Support a World Class Museum

 

Cash  Consider writing a check to support the museum today or placing funds in the museum endowment.

Wills, Bequests, and Trusts  A bequest to the museum through your will or trust provides a legacy to benefit future generations. Whether a bequest is unrestricted or designated to support a specific area of the museum, your gift can make a real and lasting difference in the lives it touches. You can designate a bequest of a specific asset or a specific amount of money; a percentage of your remaining estate; or a bequest can be contingent on something happening.

 

A Charitable Remainder Trust  This gift pays you and your loved ones an income for life. If you have significant assets such as cash, appreciated stocks, or real estate, you can establish a trust. You receive an immediate charitable tax deduction for the charitable portion of your trust. The trust pays you, or a beneficiary, regular income payments. Upon the beneficiary’s death or after a defined period of years, the remaining assets in the trust transfer to the museum.

 

Life Insurance you can give a policy to the museum and generally receive a deduction equal to or slightly less than your cost basis. If you donate the funds to pay future premiums, those gifts are also tax-deductible. Another alternative is to name the Foundation as beneficiary of employer-paid life insurance.

Retirement Plans  Distributing retirement assets to your will or trust won’t ease your heirs’ taxes. Instead, consider making the museum or a testamentary charitable remainder trust the direct beneficiary of your retirement and IRA assets.

 

Stock & Securities  Do you own long-term stocks that you are ready to sell and you also want to make a gift to the museum? You can transfer the stock directly to the museum. But, if you have stocks that have declined in value, it’s often smart to sell the stocks first, then donate the cash proceeds.

Giving Real Estate  There are as many ways to give real estate as there are types of real property. An outright gift of highly appreciated real estate is the simplest way to give, provides the largest charitable tax deduction, and avoids gain on the sale.

 

Tractors, Implements, Trucks & Cars  Vintage or not, your vehicle donations can support the Center and it’s collection at auction, or in our exhibitions. If you have a vintage piece of equipment that would add to the collection? Consider giving it to the museum with a cash contribution that supports restoration, exhibition, and museum overhead.

 

Financial Planning When you talk to your accountant, estate attorney, or financial advisor, consider discussing a way to include the Heidrick Ag History Center in your plans to support a world class museum.

Planned gifts support the endowment unless you tell us otherwise

 

Contact Lorili Ostman, Executive Director, by calling 530.666.9700 if you are interested in learning more about how to leave a legacy.