Gifts in a Will
A gift in your will is one of the easiest ways to create your legacy and a powerful and lasting statement about the importance of education and transforming the lives of our students.
Costs you nothing now to give in this way
You can alter your gift or change your mind at any time and for any reason
Your gift will create your legacy of helping others and giving back to our students and community
4 simple, “no-cost-now” ways to give in your will:
General Gift in Your Will
Residual Gift in Your Will
Specific Gift in Your Will
Contingent Gift in Your Will
Leaves a stated amount or share only if a spouse, family member or other heir/beneficiary does not live longer than you. In other words, your gift is contingent upon whether or not they survive after you.
Gifts by Beneficiary Designation
It’s easy to put your bank accounts, retirement funds, savings bonds, and more to use in supporting students in their exploration, discovery and transformation through the MSUM Foundation — and it costs nothing now.
By naming the MSUM Foundation as a beneficiary of these assets, you power our approach to supporting our students during such a vital time of their lives. Your gift impacts students from all walks of life through the MSUM Foundation and becomes your personal legacy to the world.
Potential benefits of gifts by beneficiary designation:
Reduce or eliminate taxes on retirement assets
Reduce or avoid probate fees
No cost to you now to give
Create your legacy with the MSUM Foundation
To name the MSUM Foundation as a beneficiary of your retirement plan, contact your bank or insurance company to see whether a change of beneficiary form must be completed.
How to Change a Beneficiary Designation:
Login to your account or request a Change of Beneficiary form from your custodian (the business holding your money or assets).
Follow the links to change your beneficiary or fill out the form.
Be sure to spell the name of our organization properly:
Include our tax identification number: 23‑7101061
Save or submit your information online or return your Change of Beneficiary Form.
A Gift of Retirement Funds (Beneficiary of Your Retirement Plan):
You can simply name the MSUM Foundation as a beneficiary of your retirement plan to support students in their journey of discovery and transformation.
A Gift of Funds Remaining In Your Bank Accounts, Brokerage Accounts or Certificate of Deposit (CD):
This is one of the easiest gifts to give and one of the most useful in accomplishing what you want – focusing on student achievement and their accomplishments. The next time you visit your bank, you can name the MSUM Foundation, (Tax ID: 23-7101061), as the beneficiary of a checking or savings bank account, a certificate of deposit (CD), or a brokerage account. When you do, you’ll take a powerful step toward ensuring all students get the opportunity to discover their passions and shape the world for generations to come.
Life Insurance Policy:
It’s not uncommon for people to have a life insurance policy that has outlasted its original purpose. If you do, you can use it (or a percentage of it) to reduce your taxes and create a gift to the MSUM Foundation that demonstrates your commitment to supporting students pursue their dreams and achieve their goals. Request a beneficiary designation form from your life insurance company and make the MSUM Foundation a full, partial, or contingent beneficiary. (You can also sign over a fully paid policy. You’ll be allowed a tax deduction for your generosity.)
Donor-Advised Fund (DAF) Residuals:
What remains in a donor-advised fund is governed by the contract you completed when you created your fund. When you name the MSUM Foundation as a “successor” of your account or a portion of your account value, you are supporting student scholarships, encouraging innovative teaching and programs, funding research and playing an active role in the successes of current and future generations.
Complimentary planning resources are just a click away.
Your Giving Toolkit
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This information is not intended as legal, accounting, or other professional advice. For assistance in planning your gift(s), please consult a lawyer and/or financial advisor for professional advice.