Leave your legacy
You can make a lasting difference in our community by including Music in the Mountains in your estate planning. This could be your opportunity to make a major contribution… perhaps one that continues in perpetuity.
The bequest of even a modest percentage of your estate can easily have a substantial impact.
You can include MIM in your Will or Family Trust, give a portion of your IRA, or utilize other more sophisticated strategies with current benefits to you. When you do this, you will join a very special group we call the Golden Clef Society.
Please consider a legacy gift to MIM in your estate plan. You will be continuing these exceptional programs for many years. Legacy giving is easier than you may think. Below are some strategies for legacy giving.
Legacy Giving Strategies
Provision in Your Will or family trust
Just like in a Trust or will, gifts can be unrestricted, placed in the endowment funds, or made in memory of a loved one or honored friend.
Any dollar amount, percentage, or the residue of your estate can be specified. You can easily continue your yearly donation in perpetuity by simply designating fifteen times your annual gift amount to be placed in the Endowment. Each year, the interest generated will continue your gift, plus protect the principal from inflation.
portion of your ira
Making MIM a beneficiary of a portion of your IRA means that no income taxes will be paid when funds are withdrawn, unlike when an individual receives it.
You can also give directly from your IRA today if you are already at least 70 1/2. You won’t have to pay taxes on the distribution and it will go towards fulfilling your Required Minimum Distribution amount if you have one. This is an especially good strategy if you claim the Standard Deduction on your tax return.
charitable trust
By establishing a charitable trust, you may be able to:
- Increase your current income
- Redirect capital gains, estate, and probate taxes according to your desires
- Make larger charitable gifts
- Perhaps even increase your estate’s net value.
When planning your estate, especially with this strategy, you should consult a professional advisor. We can help you find a professional to help in your planning if needed, or you could contact the Gold Country Estate Planning Council.
