Estate gifts empower some donors to make the gifts of a lifetime. Donors are recognized via membership in the Heritage Club.
The following is provided for informational purposes only and is not financial or legal advice. Please consult your tax advisor, attorney or financial planner prior to making any decisions regarding your estate.
Wills or Trusts
Over the years, many generous alumni and friends have made a great impact at MMA by naming the Academy as a beneficiary in their will or trust. Naming MMA in your will or trust allows you to have full control of your assets while you live and then pass on a significant gift upon your death.
Unrestricted bequests are typically designated to the MMA endowment unless the Board of Trustees elects to apply it to a special fund such as a scholarship or capital project.
There are several options for those who wish to include MMA in their will. You can name MMA as the beneficiary of:
Gifts of Life Insurance
- A percentage of your estate’s assets
- A fixed dollar amount within your estate
- Specific personal property such as land
- Assets that remain after your loved ones have been provided for
You can make a significant gift to the Academy by naming MMA as a primary or secondary beneficiary to a life insurance policy. Paid policies may also be transferred to the Academy. In some cases, the annual premium can be tax deductible.Charitable Gift Annuities
Charitable gift annuities make it possible for donors to make a significant contribution as they receive a fixed annual income until their death. The remaining principal is maintained by the Academy.Charitable Lead Trusts
A charitable lead trust is an irrevocable trust established when a donor transfers money to a trustee, usually at amounts of $100,000 or more, establishing a trust. The trust produces investment income that is paid directly to MMA annually until the donor’s death. Upon the donor’s passing, the remaining trust is distributed to the donor’s beneficiaries at reduced estate tax rates. The donor receives the benefit of seeing the impact of their gift during their lifetime.Charitable Remainder Trusts (CRTs)
A charitable remainder trust can be established by using property or money to set up a trust that the donor will continue to benefit from for a specified period of time, after which MMA receives the principal. Donors can avoid capital gains tax on the donated assets and may also receive an income tax deduction for the fair market value of the remainder interest earned by the trust. The assets are removed from the donor’s estate, subsequently reducing the donor’s estate taxes.
There are three types of CRTs available: charitable annuity trusts, unitrusts and a charitable pooled income fund. Each option has different benefits and restrictions. Your financial advisor and/or a representative from your bank can provide complete details about these options.Email the Office of Advancement
for more information about Planned Giving.