Planned giving leaves a lasting statement of your support and belief in Plimoth Patuxet.
A planned gift simply means making the decision today to provide a gift for the Museum that may not be realized until after your lifetime. The gift you plan now, which will ultimately affect your estate, allows you to create your personal legacy, ensuring that the history, scholarship, inspiration and beauty of Plimoth Patuxet will continue well into the future.
How do I leave a planned gift?
Here are some of the most popular ways of making a planned gift.
A bequest is a gift made through a will or living trust. Affordable for everyone, no matter what the size of your estate, a bequest can be accomplished either through a new will or a codicil, an addition that changes or adds provisions to an existing will. A bequest to the Museum can reduce estate taxes for your heirs.
A charitable remainder trust is an individually managed trust that pays the beneficiary(ies) an income for life, with the Museum receiving the remainder. It can be funded with cash, appreciated securities or real estate, providing current tax benefits as well as reducing estate costs for your heirs.
Combined estate and income taxes can significantly deplete your retirement account. By naming Plimoth Patuxet as the beneficiary of your retirement plan, you will minimize the income tax liability and reduce estate taxes for your heirs.
You can contribute a fully paid-up life insurance policy to Plimoth Patuxet or name the Museum as the beneficiary in a new or existing policy. An outright gift of an insurance policy allows you to receive immediate tax benefits, while naming the Museum as the beneficiary of a policy will result in possible estate tax savings.
Homes, vacation homes and investment property are often a significant part of an individual’s net worth. You can donate property in full or deed the remainder interest in your home, retaining rights to live on your property for life. A gift of real estate allows you to make an extraordinary contribution to the Museum while alleviating potential taxes, brokers’ fees and management costs.
We will work closely and confidentially with you and your Certified Financial Advisors as you consider which gift option is right for your particular situation. For more information on making a planned gift, please contact Ellie Donovan, Executive Director.
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