Types of Planned Gifts:
1) Bequest: You can leave a portion of your assets or estate to Marklund.
General bequest language:
“I give, devise, and bequeath to Marklund in Geneva, IL, the sum of $________(or name a percentage of your estate), for the benefit of Marklund and its general purposes.”
Residuary bequest language:
“All the rest, residue, and remainder of my estate, both real and personal, I give to Marklund in Geneva, IL, for its general purposes.”
Contingency bequest language:
“I devise and bequeath the residue of the property, real and personal and wherever situated, owned by me at my death, to (name of beneficiary), if (she/he) survives me. If (name of beneficiary) does not survive me, I devise and bequeath my residuary estate to Marklund, Geneva, IL, for its general purposes.”
2) Retirement Assets: You can name Marklund as the beneficiary of your IRA, 401K or other retirement plan.
3) Life Insurance Policies: You can name Marklund as the beneficiary of a life insurance policy.
4) Life Income Plans:
- Charitable Gift Annuity – Provides you with income for life, receive payments now or later, minimum gift amount is $5,000, and minimum age is 55. Click here to learn more about charitable gift annuities. Call your financial planner today for more information.
- Charitable Remainder Trust: Provides you with income for life or a fixed number of payments. Click here to learn more about charitable remainder trusts. Call your financial planner today for more information.
5) Gifts of Real Estate: May be used to fund a life-income gift. Call your financial planner today for more information.
6) Charitable Lead Trust: Provides immediate income for Marklund, with the principal going to the donor. Click here to learn more about charitable lead trusts. Call your attorney or financial planner to learn more today.
7) Donor Advised Funds: Donor Advised Funds are held within, and managed by a public charity, such as a local community foundation, and are fast becoming the most popular vehicle for charitable giving in the U.S. Click here to learn more about donor-advised funds.
Without a will, there is no mechanism in place to make a bequest, so here are the steps you should take to make sure your wishes to support Marklund are honored.
- Make a detailed list of your assets (financial, real estate, vehicles, jewelry, collectibles, etc.)
- Set up an appointment with your financial advisor, attorney, or Marklund staff member. These professionals will help sensitively guide you through the process.