The MLTC Legacy Circle gives you the opportunity to add your name to a remarkable group of people, who have made Mobile Loaves Twin Cities a part of their legacy by including it in their estate plan.
Doing so will ensure that future generations of people in need will receive food, clothing, and dignity.
Below are some ways that you can join those who believe in “planting a tree under which they will never sit.”
It is important to note that any amount is beneficial.
For planning purposes: Our 501(c)(3) Tax ID number is 81-3996189
Our address is 4537 3rd Avenue South, Minneapolis, MN 55419
BEQUESTS – In your will, you can designate a specific amount, a percentage of your estate, or what remains of your estate after you have provided for your children or other beneficiaries. BENEFICIARY DESIGNATION: IRA, Life Insurance, Donor Advised Fund or Annuity – For many the easiest legacy gift can occur via beneficiary designations. The above assets pass to their heirs based on the beneficiary designation in the contract or policy. Naming MLTC as a beneficiary can avoid income taxes on IRA funds following death. Similarly, life insurance, donor advised funds, and annuity proceeds can be directed partially or fully to a qualified charity such as MLTC.
CHARITABLE REMAINDER TRUST (CRT) – For those contemplating the sale of appreciated assets such as real estate or stocks, a CRT can be a “win-win”. Prior to sale, the asset is transferred to a CRT uniquely designed for the donor’s needs. Your CRT subsequently sells the asset tax-free and uses the funds to pay a fixed term income (or lifetime income) to the donor. At the expiration of the term or lifetime, the residual passes to MLTC. OTHER WAYS TO LEAVE A LASTING LEGACY – For those with adequate income but not holding assets suitable for bequest to MLTC, using a new life insurance policy can be an efficient way to create a legacy gift. The donor is insured and MLTC if the policy owner. The donor’s annual premium payments are tax deductible. At the donor’s death, a tax-free death benefit provides a legacy gift to MLTC.
