Wills and Trusts
One way to make a deferred gift is to include specific language in your will or trust, naming the Elmhurst Art Museum as the recipient of your planned gift. You may include:
- Tangible assets, cash, personal property and real property
- A percentage of your estate
- The residue of your estate
- Intangible assets, including life insurance, retirement savings and other deferred gifts.
What is a charitable gift annuity?
It is an agreement between you and EAM. You agree to make a gift of cash or appreciated securities to the Museum or program of interest to you. In turn, we invest these funds and agree to pay a fixed percentage of income to you every year. The yearly income amount is determined by your age at the time of your contribution. The older you are, the higher your rate is; the rate remains constant once the gift is made.
Life Insurance
Life insurance provides an effective way to benefit EAM.
- The gift of a life insurance policy will provide the Museum with a substantial deferred gift while you payrelatively modest premiums.
- The gift of a paid-up or partially paid-up insurance policy may be advantageous if your family responsibilities are no longer as substantial as they were in the past.
- The gift of life insurance will not be delayed during the administration of your estate, and proceeds from the policy can be paid promptly to EAM.
Retirement Savings
Another way of making a charitable contribution to the Museum is to name a beneficiary of a portion of your retirement funds. If you wish to make this type of gift, you should contact the administrator or person in charge of your individual retirement account, profit sharing account or other retirement plan.