Bequests (Wills and Living Trusts)
One of the most popular and flexible ways to make a legacy gift is to remember the USS Missouri Memorial Association ("UMMA") in your will or living trust. There are many good reasons for its popularity. A bequest is a deferred gift, meaning that you retain full control over your assets during your lifetime should you need them. It's flexible—you can name as many charitable beneficiaries as you would like, specify the amount or percentage each will receive, and change these designations over time. In addition, your estate is entitled to an estate tax deduction for the full amount of the bequest gift.
Types of Bequests
A bequest to UMMA is one of the simplest ways to make a gift that suits your family and financial needs while also benefiting an organization you care about. There are different kinds of bequest gifts you can make:
- A specific dollar amount
- A specific piece of property, such as stock or real estate
- All or a portion of what remains from your total estate after debts, taxes, expenses, and specific bequest gifts have been paid
- A contingent gift that leaves assets to UMMA only under certain conditions—if a spouse or other beneficiary does not survive you, for example.
You may leave your bequest unrestricted, so that your gift can help meet pressing needs at the time it is received, or you may direct it to a specific project or program at UMMA. In addition, your bequest can pay tribute to someone special by being made in their honor or memory. Whichever way you choose, you truly create a living legacy at the Battleship Missouri Memorial. Sample bequest language may help you and your attorney when drawing up a bequest that meets your needs.
For more information about including UMMA in your will or living trust, or if you have already provided for the USS Missouri Memorial Association in your estate plans, please contact our Development Department at (808) 455-1600 ext. 244, or email us.