Help secure the future of the Holocaust Memorial Center through a planned or estate gift, such as these listed here. You can create a lasting legacy, while receiving a tax benefit to you and your loved ones. Each gift - no matter what the amount - makes a difference. Let us, with your own financial planners, help you meet your unique financial, tax and estate-planning goals while ensuring the continuation of Holocaust Memorial Center’s mission of education and commemoration.
A Charitable Remainder Trust is established by you and is a separate trust that benefits yourself or your designated beneficiaries and, ultimately, the Holocaust Memorial Center. There are multiple types of charitable remainder trusts to fit a variety of situations. The two main types are annuity trusts, which pay a set amount to the beneficiary, and unitrusts, which pay a percentage of the annually determined value of the unitrust to the beneficiaries.
Other planned giving arrangements provide current support for charity with a deferred benefit to you or others, or are deferred gifts that take effect upon your death or the passage of time. Some of these types of gifts include:
A Charitable Bequest by Will is a simple option that allows you to enjoy all of your assets while you are alive, yet support your favorite cause at death, through a written provision in your Will.
Life Insurance makes it possible for virtually everyone to make a meaningful gift. Policies that are no longer needed for their original purpose can make a meaningful gift when given to the Holocaust Memorial Center. You can either designate the Holocaust Center as the beneficiary, or you can gift the policy during your life and likely receive an immediate income tax deduction.
Retirement Assets can be easily gifted to the Holocaust Memorial Center at death. This can be done by changing the beneficiary designation for the retirement asset. In addition, you can reduce income taxes payable by your family - in addition to saving estate taxes - by giving retirement assets to a charitable cause. This income tax benefit can be important when planning the distribution of your pension, profit sharing, Section 401(k) and Section 403(b) plans and IRAs. Special rules apply to making charitable gifts of these assets during your lifetime. Please consult with your tax advisor about these rules.
A Charitable Lead Trust is similar to a charitable remainder trust. The Holocaust Museum receives the current distributions from the charitable lead trust, with the remainder returning to you – or more typically being transferred to your family. These arrangements can be very useful in reducing the gift and estate tax costs of moving assets to your family and can sometimes be used to generate current income tax deductions.
Remainder Interest in Residence is a tool in which, under the right circumstances, you can provide for the transfer of your home to the Holocaust Memorial Center at your death and still live in your home. This technique can generate immediate income tax deductions for you, even though you remain in your home until death.
For more information, or to let us know that you wish to include the Holocaust Memorial Center in your estate plans, please contact Development Director Cheryl Guyer at 248.553.2400 x23.