Ways to establish your river legacy
FMR would be happy to work with you and your trusted advisors on different ways to create your river legacy.
Will bequest
The most common and preferred bequest gift is for unrestricted support.
The following is sample language that can be included in a will or estate plan:
“I give to Friends of the Mississippi River, a nonprofit corporation located at 101 East Fifth Street, Ste 2000, St. Paul, MN 55101, the sum of $_____________ for general operating purposes. (Or:___________% of my estate.)”
Life insurance policy
A life insurance policy can also be used to benefit both you and the river. Naming Friends of the Mississippi River as a beneficiary may also help maximize your federal income tax deduction.
Charitable remainder trust
A charitable remainder trust is a tax-exempt trust that pays income to your designee. When the trust terminates, the remaining assets would be paid to Friends of the Mississippi River.
Retirement plan designation
Leave a lasting legacy by choosing Friends of the Mississippi River as a beneficiary of your retirement plan. The gift is exempt from federal estate tax and can be a “tax-smart” way to maximize the impact of your gift and minimize taxes.
Retained life estate
You can make a gift of a personal residence to Friends of the Mississippi River while retaining the right to live in it for life. FMR has gift acceptance policies that may limit or prohibit certain types of real estate or property gifts. Please contact us before choosing this planned giving option.
Charitable lead trust
A charitable lead trust can be a tax-advantaged way to pass assets to your heirs. A funded trust pays income to Friends of the Mississippi River for a period of time (such as your lifetime or a number of years). At the end of the term, the remainder is returned to either you or your heirs.
The information above is not intended to be financial advice, please consult with your financial or estate planner.
To learn more about joining the Mississippi River Legacy Society by making a deferred gift, contact Individual Gifts Officer Tessa Enroth at 651-222-2193 x22 or tenroth@fmr.org.