MOST COMMON GIFT PLANNING FORMS
- Wills
- Retirement assets: IRA’s, 401 (k)’s or 403(b)’s
- Living trusts
- Life insurance policies
- Charitable remainder trusts
- Charitable lead trusts
- Charitable gift annuities
- Real estate with retained life interests
- Donor advised funds
Details: THE MOST FAMILIAR PLANNED GIVING OPTIONS INCLUDE:
- Wills and Bequests: These are the easiest and most common legacy gifts, and
usually involve naming the Midway Village Museum as a beneficiary in your will
or trust. Types of bequests may include a specific amount or a specific asset, a
percentage of your estate or trust, or the balance of your estate or trust after gifts
to other beneficiaries have been made.
- Charitable Remainder Trust: A legal trust is created providing you and/or your
loved one(s) a regular fixed payment for a specified period of time or for life.
Income, capital gains, and/or estates taxes can be reduced or eliminated. At the
conclusion of the period of time, or upon your death, the remaining assets within
the trust transfer to the Midway Village Museum.
- Charitable Gift Annuity: This is similar to Charitable Trusts, but simpler. With a
charitable gift annuity, you transfer cash or marketable securities to Midway
Village Museum and, in return, Midway Village Museum issues an annuity
contract to pay a fixed payment for life to you and/or your beneficiary. Upon your
or your beneficiary’s death, the fund transfers to benefit Midway Village Museum.
- Gifts of Life Insurance: There are a number of ways to utilize life insurance as a
planned giving tool. The most common include, but are not limited to, donating a
policy’s accumulated cash value, listing Midway Village Museum as a
beneficiary, or assigning ownership of a policy listing Midway Village Museum as
that policy’s beneficiary.
- Gifts of Appreciated Stock: Making a gift of appreciated securities can provide
you with significant tax benefits. One benefit is that you do not pay the capital
gains tax on the appreciation that otherwise would have been required had you
first sold the stock and then made a cash gift.
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