Ways to Give a Planned Gift
Will or Living Trust
Including the Intrepid Sea, Air & Space Museum in your will or living trust is the most common form of planned gift. Such a gift requires the assistance of an attorney to draft a codicil (for a will) or amendment (for a living trust) or to write a new will or living trust. Although wills and living trusts are generally revocable documents, by signing a pledge form confirming your intentions, you can be recognized for the full amount of your intention. Sample bequest language: I hereby give, devise and bequeath to Intrepid Museum Foundation, located at 12th Avenue and 46th Street, New York, NY, $_____ (specific dollar amount) or _____ percent of my residuary estate, (to be used for ___ purpose/to establish_______ endowment fund.
IRA or Pension Plan Beneficiary
By naming the Intrepid Sea, Air & Space Museum as a beneficiary of your IRA, pension plan or other retirement assets, you are creating a revocable commitment to the Museum. This is a tax-wise form of giving, as funds designated in this manner are not subject to income tax after your passing. While estate taxes may or may not be a concern for you, all IRA, pension plan and pre-tax retirement assets are subject to income tax when distributed unless a non-profit institution such as the Intrepid Museum is named beneficiary of some or all of the funds. Changing a beneficiary designation requires the filing of a new beneficiary designation form. As with bequests, you can be recognized by signing a pledge form confirming your intentions.
Life Insurance Policy
Insurance policies that are fully paid are ideal assets to gift to the Intrepid Sea, Air & Space Museum. Alternatively, a new insurance policy can be purchased naming the Intrepid Museum as the owner with a pledge to make annual gifts to cover the premium payments. We will work with you and your financial advisor to determine the best policy to use for this purpose.
For questions or information about other planned gifts, please contact:
Assistant Vice President, Strategic Initiatives