There are many ways to leave a legacy though planned giving, whether it’s life insurance, retirement products, annuities, or stocks and securities. The Norwegian-American Legacy Circle recognizes individuals who have remembered NAHA in their wills and estate plans.
If you have included NAHA in your estate plans, we would appreciate knowing of your intentions. This gives us the opportunity to thank individuals for their foresight and generosity and helps us plan for the future. All requests for confidentially are carefully honored.
To discuss planned giving options, complete our form below or simply contact Executive Director Amy Boxrud at 507-786-3221.
Bequests of all sizes have played an important role in the growth and success of the Norwegian-American Historical Association. As a main source of endowment support, bequests help ensure that NAHA will be financially sound for generations to come. They are especially important for supporting NAHA’s most essential needs: operations, archives, and publications.
You can make a bequest to NAHA by preparing a new will or adding a codicil to your present will. To make certain your exact intentions are followed, wills and codicils should be prepared by or with the advice of an attorney.
- Cash bequest — NAHA receives a specified dollar amount.
- Specific bequest — NAHA receives specified assets, such as securities.
- Residuary bequest — NAHA receives all or a percentage of the remainder of your estate after other obligations have been met.
- Contingent bequest — Property is distributed to NAHA only if the named beneficiary is deceased.
Your will ensures that your assets are distributed according to your wishes to the people and institutions most important to you. Through a bequest, you can have the satisfaction of knowing that you will help NAHA for years to come, at the same time providing for your loved ones.
Examples of Bequest Language
We suggest the following language for use in making an unrestricted bequest:
I give and bequeath to the Norwegian-American Historical Association, a not-for-profit corporation located in Northfield, Minnesota, the sum of _____ dollars ($___) or (____ shares of ____) or (____% of the remainder of my estate) to be used for its general purposes.
We recommend that you contact our office for assistance with a bequest for a specific purpose. For a restricted bequest, we suggest the following language:
I give and bequeath to the Norwegian-American Historical Association, a not-for-profit corporation located in Northfield, Minnesota, the sum of _____ dollars ($___) or (____ shares of ____) or (____% of the remainder of my estate) to be used for the following purpose: (Examples: support for operations, for archives, and the publication program).
If you designate a particular purpose for your bequest, inclusion of the following language will ensure that your gift will always remain productive and will help NAHA respond to changing needs and conditions:
If, in the future, it is the opinion of the Board of Directors of NAHA that all or part of the income of this fund cannot be usefully applied to such purpose, it may be used for any related purpose that in the opinion of the Board of Directors will most nearly accomplish my wishes.
Today, IRAs, Keoghs, 401(k) plans, and profit-sharing plans make up a large part of many estates. While the primary purpose of retirement-fund assets is to provide a source of income during retirement, in many cases substantial balances remain after the deaths of both the retiree and the retiree’s spouse. When left to family members or friends, these gifts can be subject to considerable taxes including estate tax and federal and state income taxes. If a nonprofit organization such as the Norwegian-American Historical Association is named as the beneficiary or contingent beneficiary of all or a specified percentage of your plan, both income and estate taxes are avoided.
Charitable Gift Annuities
Charitable giving doesn’t have to be a one-way proposition — you can also benefit from your generosity. It is possible to make a charitable gift and actually have an income stream flow back to you — all while generating valuable income-tax benefits.
One way is the charitable gift annuity whose rates are generally higher than fixed-rate returns such as certificates of deposit. This process allows you to make a charitable gift and retain cash flow based on the value of donated assets.
For More Information
If you have included the Norwegian-American Historical Association in your will, are considering doing so, or have any questions about planned gifts, please call our office at 507-786-3221 or complete the form below. Your inquiry will be confidential and places you under no obligation.