Please remember Scottsdale Arts in your Estate Plan
Just as you may be supporting Scottsdale Arts during your lifetime, you may also want to support the arts in the future by making a gift upon your death. Including Scottsdale Arts in your estate plan costs nothing now, yet it will give you a great deal of satisfaction to know that your future gift will benefit Scottsdale Arts as a whole or you can select a specific entity to endow. You can select the Scottsdale Center for Performing Arts (SCPA), Scottsdale Museum of Contemporary Art (SMoCA), or Scottsdale Public Art (SPA)
A gift through your estate plan can be changed at any time, and if you wish, you can make your plans anonymously. You can include Scottsdale Arts in your estate plan in multiple ways.
A bequest is a transfer of cash, securities, or other property through a will or a living trust. A bequest to Scottsdale Arts can be made of a specific dollar amount, of a specific asset, or a percentage of your estate, or even of all or a portion of what is left after you have made specific bequests to our family and others.
Retirement Plan Assets
The best way to make a gift of retirement plan assets is to name Scottsdale Arts a primary or secondary beneficiary on your plan’s beneficiary designation form. This can be an extremely tax-efficient method of making a gift because retirement plan assets may be subject to both income tax and estate tax before an individual beneficiary can receive them after your death. The combined taxes may significantly reduce the amount to the individual beneficiary. Retirement plan assets which are distributed to Scottsdale Arts are not subject to income tax or estate tax, so Scottsdale Arts can use 100 percent of the gift.
You can make Scottsdale Arts the beneficiary of a life insurance policy. You may also, under certain circumstances, make Scottsdale Arts the owner of a life insurance policy on our life during your lifetime and receive an income tax charitable deduction for a portion of the face value of that policy.
Please consult with your attorney or tax advisor as individual circumstances vary. To explore these giving opportunities, please contact: Kelly Hicks at KellyH@scottsdalearts.org.