Support New England String Orchestra

Estate Planning
The financial benefits you may receive supporting the New England String Orchestra (NESO) through estate planning are life income for yourself or another person and substantial tax savings.

Gifts that provide an income stream for your lifetime or period of years

Charitable Gift Annuity is a simple, contractual agreement between one or two donors and the NESO. You transfer assets to us in exchange for an annuity for the rest of your life. You are entitled to a current income tax charitable deduction for the gift.

Charitable Remainder Trust allows you to irrevocably transfer money, securities, or other assets to a trust that will then pay you or another beneficiary an income for life or for a period of years. At the death of the surviving beneficiary, the remaining principal in the trust goes to NESO. You are entitled to an immediate income tax charitable deduction for the present value of the trust assets at the end of the trust term.

Remainder Interest in a Residence involves deeding your primary or vacation home to NESO and receivin a current tax deduction. You (or a person given life use of the home) retain the right to live, rent, or make improvements to the home while maintaining responsibility for maintenance, insurance, and property taxes. After your (or the resident’s) death, NESO sells the property and applies the proceeds to a purpose you select.

Charitable Lead Trust is a trust through which NESO receives an income stream for a term of years or your lifetime, and you or other individuals receive the remainder of the trust property at the end of the term. This is a wonderful way to see your gift make a difference during your lifetime, while still benefiting your family or retaining the right to recover the property later.

Other ways to make planned gifts

Bequests are a way to create a legacy by making a gift in your will to friends, family, and charitable organizations. A bequest is one of the simplest ways to remember those you care about most.

Cash. This is the simplest way to give. Your cash gifts may be deductible up to 50 percent of your adjusted gross income for the taxable year. Any excess is deductible over the next five years.

Securities. The best stocks to donate are those that have increased greatly in value, particularly those producing a low yield. Even if you wish to keep the stock in your portfolio, by gifting it to us and then using cash to buy the same stock through your broker, you will have received the same income tax deduction but will have a new, higher basis in the stock.

Real Estate. If you own property that is fully paid off and has appreciated in value, an outright gift may be the simplest solution. You can deduct the fair market value of your gift, avoid all capital gains taxes and remove that asset from your taxable estate. You can transfer the deed of your home or farm to us now and keep the right to use the property for your lifetime and that of your spouse.

Retirement Plan Assets. Retirement accounts are often exposed to income taxes and estate taxes, at a combined marginal rate that could rise to 75 percent or even higher on large, taxable estates. Yet many of these taxes can be avoided or reduced through a carefully planned charitable gift.

Life Insurance. You can donate a life insurance policy to us or simply name us as the beneficiary. For the gift of a paid-up policy, you will receive an income tax deduction equal to the lesser of the cash value of the policy or the total premiums paid. To qualify for the federal charitable contribution deduction on a gift of an existing policy, you must name us as owner and beneficiary.

Securities: Closely Held Stock. Closely held stock (which is not publicly traded) can also be used as a charitable gift even if you want to maintain a control position in the stock.

Please contact Erica Beloungie, Executive Director to discuss remembering NESO in your estate planning. You may reach Erica at ericab@newenglandstringensemble.org or (617) 566-0430