Bequests are gifts made in a will, trust, or estate plan. The gift is most often made as a specific amount, a percentage, or a remainder amount, and can be as easy to establish as adding the following sentence to your will:

”I devise and bequeath to Opera on the Lake, Inc., St. Paul, Minnesota, [dollar amount of gift, or the word ‘all’, or a percentage of the estate] to be used for its general purposes.”

You may also designate your gift to a specific program or purpose; please discuss your planned giving intentions with Opera on the Lake in order to ensure you wishes can be accommodated.

You can name Opera on the Lake as the sole or partial beneficiary of your retirement plans such as IRAs, 401(k) plans and 403(b) plans. By naming the Opera as a beneficiary of your retirement plans, you may be able to avoid both income and estate tax, allowing you to leave your lower-taxed assets to your family. Your retirement plan administrators can provide you with the necessary information and forms to include Opera on the Lake in your retirement plans.

By naming Opera on the Lake as the sole or partial beneficiary of your fully paid life insurance policy, you may be able to avoid the estate tax on the proceeds. This revocable gift is easy to arrange; simply contact your insurance company for a Change of Beneficiary form.

When you create this trust (with cash, securities, or other appreciated property), you will receive fixed regular payments based on the value of the principal. The Charitable Remainder Unitrust may allow you to avoid the capital gains tax on your donated assets and you will receive a tax deduction for a portion of your gift. When the trust is terminated, the remained will pass to Opera on the Lake—providing you with income for life while contributing to the Opera in the future.