To help you get started on your plans and legacy, you can use FreeWill, an online tool that guides you through the process of creating a legally valid will or trust. It’s easy to use, accessible online, and can be completed in 20 minutes. You can use this resource on its own, or use it to document your wishes before finalizing your plans with an attorney.

Have you already included a gift in your will or trust? Please fill out this form to let us know! We would love to thank you for your generosity.

Do you have an IRA, 401(k), life-insurance policy, or any other assets not included in your will? If so, these are called non-probate assets and you must plan your beneficiaries for them separately. Use this online tool to make your plans and designate us as a beneficiary of one or more of these assets.

Donating stocks allows you to avoid the capital gains tax, and if you itemize deductions, you can also take a charitable deduction for the entire donation amount. We’ve invested in this secure online tool that enables you to donate your appreciated assets in 10 minutes. Learn more and get started.

If you are 70.5 or older and have a traditional IRA, you can use this secure online tool to make a qualified charitable distribution (QCD) donation from your IRA account. IRA gifts are generally not recognized as taxable income, and if you must take a required minimum distribution (RMD) this year, giving from your IRA is a compassionate way to fulfill it. Using this online tool, you can learn more and fill out the forms from your IRA custodian in just a few minutes, or print out the forms to fill them out offline.

Remainder trust

With a transfer of cash, stock, or other appreciated assets to a charitable remainder trust, you can generate lifelong income for yourself or other beneficiarites and potentially claim an income tax deduction. The trustee pays you a percentage of the trust’s value each year. At the end of the trust, the museum receives the proceeds. Benefits include:

• Quarterly income for life for you or other beneficiaries
• Potential for growth of income over time
• Investment diversification
• Can be funded with cash, securities, or other property
• Potential income tax deduction
• Savings on gift and estate taxes
• Future support for the museum in an area you designate

Lead trust

Forming a charitable lead trust allows you to pass wealth on to heirs with little or no estate or transfer taxes. During the life of the trust, the museum receives annual income, after which the principal is turned over to the heirs you have designated. Benefits include:

• Gift and estate tax deductions for the value of annual trust payments may enable you to transfer to your heirs a larger estate after taxes than would otherwise be possible
• Any appreciation of the assets during the term of the trust, while subject to capital gains tax, is not subject to gift or estate tax at the trust’s termination
• Annual support to the museum in an area you desginate

Donor-Advised Funds allow you to contribute to a fund as often as you like, then bundle contributions and grant them to the museum at an opportune time. If you have an existing DAF account, you may use it to generate a quarterly or annual grant earmarked toward the museum’s long-term sustainability.

Common DAF providers in our region include:

• Edward Jones
• Fidelity
• Idaho Community Foundation
• Vanguard

Gifts of real estate and other property can benefit the museum and provide you flexibility with your estate and retirement planning. Real estate and personal property may be used for an outright gift or to establish a life income arrangement or bequest. Gifts of real estate can include commercial or residential property, open land, farms, and condominiums. Other gifts can include partnership interests and personal property such as artwork, antiques, and collectibles. The tax benefits to you depend on the form of the gift and your individual circumstances.