Bequests
One of the simplest ways to make a planned gift to the SMFA is through a bequest in your will or a provision in your living trust. You may indicate that the SMFA is to be the recipient of a specific amount, a percentage of your estate, or a particular piece of property. Our Development Office can help you determine appropriate language to match your intentions. LIFE INCOME GIFTS
Charitable Gift Annuity
In exchange for your irrevocable gift of cash or securities, the SMFA (via the Museum of Fine Arts, Boston) will pay you and/or another beneficiary a guaranteed fixed income for life. Charitable gift annuities are particularly popular since the payout rates exceed most traditional investment vehicles and also offer a charitable deduction for tax purposes. Charitable Remainder Trust
A charitable remainder trust pays you and/or another beneficiary income for life, provides a substantial charitable income tax deduction, and can serve as a highly effective means of avoiding capital gains and estate taxes. You can choose either a fixed income or a set percentage of the value of the trust, determined annually. Pooled Income Gift Fund
The SMFA/MFA's pooled income fund works like a mutual fund; your gift is co-mingled with other assets and invested for high yield. You and/or any beneficiaries receive variable life income. You also receive a charitable income tax deduction and avoid capital gains taxes on gifts of appreciated property. GIFTS FROM RETIREMENT PLANS OR LIFE INSURANCE POLICIES Retirement Plans
A combined estate and income tax can deplete your retirement account by as much as two-thirds. By naming the SMFA as a beneficiary of your retirement plan, the remainder of your plan is not taxed and your heirs have no 'hidden' income tax liability. Another option is to have your retirement assets transferred to a charitable remainder trust, providing valuable income to an heir for life. Life Insurance Policies
You may either contribute the face value of the policy to the School or name the SMFA the beneficiary of the policy. An outright gift of your insurance policy will allow you to receive a charitable income tax deduction, while naming the SMFA your beneficiary helps you avoid federal gift and estate taxes. OTHER PERSONAL TRUSTS AND REAL ESTATE Charitable Lead Trusts
A charitable lead trust gives the SMFA income for a set number of years but retains the principal for you or your heirs. A lead trust is especially beneficial to your heirs if you have a large estate and are concerned about federal and gift estate taxes. Removed from your estate, assets placed in a lead trust can be passed to loved ones untouched by the diminishing effects of these taxes. Real Estate
Gifts of real estate can include homes, condominiums, apartments, undeveloped land, farmland, and rental property. A gift of this kind can alleviate capital gains taxes, income taxes, and brokers' fees as well as management costs and responsibilities, while the SMFA can receive income or generate capital from your gift. If you would like more information or to discuss one of the options listed above, please call Dan Poteet at 617-369-3606 or dpoteet@smfa.edu.
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