Ask yourself the following three questions:
- How do I want to be remembered?
- How can I help at-risk kids in Boston?
- How can I leave a legacy in the Greatest Sports City in
America?
The answer to each question: By making a charitable bequest to
The Sports Museum, the educational institution that preserves and
showcases the distinctly rich heritage of sports in New England -
and uses that heritage to help build character in at-risk kids so
that they can stand strong in the face of drugs, violence,
bullying, and other dangers.
A charitable bequest is a distribution from your estate to a
501(c)(3) non-profit charitable organization - The Sports Museum -
through your last will and testament. Your intention can be stated
through a simple codicil, or addition, to your current will. Here
are a few common types of bequests:
General Bequests. A general bequest is a legacy gift that
comes from the value of your estate. It is made by designating a
specific dollar amount or a fixed percentage of your estate to The
Sports Museum. Some sample general bequest language:
- I give and devise to The Sports Museum of New England, Inc. the
sum of $
for its general uses and purposes, OR
- I give and devise to The Sports Museum of New England,
Inc. % of my
estate for its general uses and purposes.
Residuary Bequests. A residuary bequest is made when you
intend to leave the remaining portion of your assets to The Sports
Museum after other terms of the will have been satisfied. Some
sample residuary bequest language:
- All the rest, residue, and remainder of my estate, both real
and personal, I give to The Sports Museum of New England, Inc. for
its general uses and purposes.
Contingent Bequests. A contingent bequest allows you to
leave a portion of your estate to The Sports Museum if your named
beneficiary does not survive you. Some sample contingent bequest
language:
- If [INSERT NAME] does not survive me, I give and devise to The
Sports Museum of New England, Inc. all the rest, residue, and
remainder of my estate, both real and personal, for its general
uses and purposes.
Beneficiary Designations. Beneficiary designations in a
life insurance policy, checking account, or retirement plan also
represent simple and meaningful ways to make a planned gift to The
Sports Museum. You can name The Sports Museum as the sole
beneficiary or as one of several beneficiaries (designating either
a specific dollar amount or a percentage of the proceeds to go to
The Sports Museum). And, in so doing, you may be able to reduce
estate and/or income tax obligations.
We recommend that you consult your attorney for advice and guidance
as to the gift giving vehicle that works best for you and your
objectives. Please know, however, that from a legal perspective,
all of the above (general bequests, residuary bequests, contingent
bequests, and beneficiary designations) are commonplace and easy to
implement. The same holds true for other types of gift giving
vehicles that your attorney might recommend (life income plans such
as charitable gift annuities, charitable remainder trusts,
charitable lead trusts, etc.).
Regardless of the specific type, please be assured that any
charitable bequest or gift that you decide to make The Sports
Museum would be both appreciated and impactful. Indeed, if sports
is important in your life, and if you believe in our mission (using
the power of sports to help at-risk kids in our community), there
is no more powerful legacy that you can leave.
If you have any questions or wish to discuss further, please
contact Rusty Sullivan, the Executive Director of The Sports
Museum, via phone at 617-624-1237 or via email at rsullivan@dncboston.com.
Thank you.