PLANNED GIVING EXAMPLES

There are many ways to make a planned gift to the Decorative Arts Trust and to join the Legacy Society. Here are a few of the ways in which to give:

• Life insurance policy beneficiary: If you own a paid-in-full policy, the most tax-effective way to donate life insurance is to transfer the policy to the Decorative Arts Trust, which becomes the owner and beneficiary. You are entitled to an immediate charitable deduction for tax purposes.
• Retirement plan beneficiary: You can designate the Decorative Arts Trust as a beneficiary of your IRA, 401(k), or other qualified plan and pass these assets to the organization as either the primary or contingent beneficiary. Retirement assets designated for charitable purposes are not subject to estate or income taxes, so the amount you designate to the organization is received tax-free.
• Bequests and Living trusts: By recognizing the Decorative Arts Trust through a bequest in your will or as a beneficiary in your living trust, you can set a dollar amount, percentage of the total estate, or a residual amount after all expenses have been paid.
• Revocable trusts: A revocable trust has provisions that can be altered or canceled by the grantor or the originator of the trust. During the life of the trust, income earned is distributed to the grantor, and only after death does property transfer to the beneficiaries of the trust. A revocable trust provides flexibility and income to the living grantor.
• Other trusts: Some trusts, such as charitable remainder trusts, allow you to transfer cash, securities, real property, or other assets to a trust, which then pays you, and/or other beneficiaries, a fixed annuity for up to 20 years. The remainder of the trust is then transferred to the organization. 
• Tangible assets (fine and decorative arts, real estate, etc.): You can indicate that such assets are sold by the estate to the benefit of the Decorative Arts Trust’s mission; or transfer ownership of such assets to the organization with the understanding that they will be sold and the proceeds used to our benefit. 

Please contact an accounting or legal professional for more information about how you can plan a gift.