The Minneapolis Foundation offers a wide range of planned giving options in addition to Legacy Funds. We can help you create a customized estate plan. Or you can select from a variety of planned gift types. Options include:
- Bequests – a charitable gift written into a will or revocable trust. You retain all assets during your lifetime, and the gift is made upon your death. The estate will receive an estate tax deduction for the bequest.
- Designated Beneficiary Funds – a fund named as either the primary or contingent beneficiary of a life insurance policy or retirement assets. Assets transferred to the fund are tax deductible, and the donor can designate a percentage of the fund income to one or more specified organizations.
- Beneficiary Designations – a simple way to make a gift at your death without the need for probate or trust administration. Assets pass automatically to your fund as soon as an application and proper documentation are submitted.
- Charitable Remainder Trust – created with $100,000 or more, charitable remainder trusts provide an immediate partial tax deduction and capital gains tax will be deferred. You can receive income from your gift for life or for a specific number of years, after which your fund receives the remaining assets.
- Charitable Lead Trust – a trust that lets you provide income to a designated fund for a period of years. Remaining assets – often appreciated – can be directed to you or your beneficiaries at the end of a specific term. A Charitable Lead Trust allows you to pass assets on to your children or grandchildren with minimum gift and estate tax liability. By naming a donor advised fund as the charitable beneficiary, you can maintain maximum flexibility in your charitable giving.
- Charitable Gift Annuities – a lifetime fixed annuity for one or two people issued by The Minneapolis Foundation in exchange for a contribution of $5,000 or more. Annuitants must be age 55 or older when payments begin.
- Gifts of Real Estate – the opportunity to give real estate outright and create a fund. Four options are available: outright gifts, life income gifts, retained life estate gifts and bargain sales.
GREATER POSSIBILITIES TOGETHER
For complete details, contact Mary Ellis Peterson, Gift Planning Officer • 612-672-3859, 866-305-0543, email@example.com.