Legacy Giving

Name the Symphony as a beneficiary of your estate. Where there’s a will, there’s a way to honor your love of classical music.

Example:
Bequeath a specific dollar amount, an asset, a percentage, or the residue of your will or trust to the Symphony. Because this portion of your estate is tax deductible, your donation may significantly reduce taxes otherwise payable by your estate.

Retirement Plans and Individual Retirement Accounts offer great tax benefits while you are living. However, at your death, the tax costs of these assets can be immense. One way to save your family and heirs the burden of these costs is to make a charitable contribution using these assets.

Example:
Name the Symphony as the beneficiary of your IRA or Retirement Plan so that your heirs will not have to pay the income taxes you have avoided during your lifetime. In addition, your heirs will not have to pay estate taxes on the value of your retirement vehicles. By naming the Symphony as the beneficiary of your Retirement Plan or IRA, your family and heirs will avoid this double taxation.

You may choose to designate the Symphony as a beneficiary of your life insurance policy.

Example:
Your existing life insurance policy may be assigned, all or in part, to the Symphony. Or, purchase an additional life insurance policy naming the Symphony as owner or sole beneficiary of this new policy.

This charitable strategy pays the donor and named beneficiaries income now until the trust matures, when the remainder passes to the Symphony. Cash, securities and appreciated real estate are transferred to the trust and a diversified investment portfolio is established to generate income for the donor. The donor receives an income tax deduction for a portion of the assets contributed to the trust and pays no capital gains tax on the transfer.

There are two types of Charitable Remainder Trusts

Annuity Trust
You receive stable, predictable income annually based on a fixed percentage of the original assets donated.

Unitrust Trust
You receive income annually that varies based on a fixed percentage of the value of the investments, which