Veterans have made great sacrifices and have vivid memories of their service. The Central Coast Veterans Memorial Museum is dedicated to making those memories live on forever. Your gift can help that happen, and may provide you and your estate with potential tax advantages.
One way to establish a lasting legacy for these memories is to make a commitment in your estate planning documents to support the Museum. Whether you have a trust or a simple will, there are ways for you to give to the Museum without compromising your quality of life now. Your gift can be specific to a particular project or to the general effort. Whichever way you choose to give, it will be remembered and memorialized in the Museum.
Making provisions in your will or trust for the Museum is perhaps the most significant commitment that one can make to the future of the memories of veterans, the museum’s display of those memories, and the passing on of those memories to the public. Simply include language that reflects either a percentage of your estate, amount, or specific asset to bequeath to the Museum.
Sample language to make this happen in an easy way is displayed below:
RESIDUAL GIFT
“All the residual of my estate, including real and personal property, I give to the Central Coast Veterans Memorial Museum, Inc. located in San Luis Obispo, CA., EIN #91-2168547”
A PERCENTAGE OF ESTATE
“I give to the Central Coast Veterans Memorial Museum, Inc., located in San Luis Obispo, CA., EIN #91-2168547, _______% of my estate”.
A FIXED AMOUNT OF MONEY OR PROPERTY
“I give to the Central Coast Veterans Memorial Museum, Inc., located in San Luis Obispo, Ca., EIN #91-21685547, $_________ or ____________ (a description of property, real or personal, including a legal description of that property if applicable). Military vehicles must include title transfer documentation. Firearms are also accepted subject to applicable laws. (Military weapons may be retained, non-military weapons may be auctioned, at the discretion of the Museum.)
There are other avenues to consider, including planned gifts that can provide you and your family, while you are alive, with retirement income or income tax benefits. These include Charitable Gift Annuities, Charitable Remainder Trusts, and Retained Life Estates. These options should be explored by you with your financial advisor.
You can also make the Museum a beneficiary on a life insurance policy, a retirement plan, or a financial account.
Museum staff can advise you about the ability of the museum to deal with certain artifacts you may wish to gift to the museum before you finalize any estate plans. Unfortunately, we may not be able to accept every artifact in your treasured collection so prior consultation is a must.