Would you like to join the Mass General Legacy Challenge, but feel the estate planning process might be too overwhelming? Let us suggest some alternative ways you can make your legacy gift. As a reminder, the Legacy Challenge has a match amount to the MGH Fund, based on the estimated value of your future legacy gift!
- Gift by Will: The simplest way to make your legacy gift is to include a directive in your will. If you already have a will, you do not need to rewrite it, but can add a legacy gift with an amendment to your existing document.
- Retirement Account: Naming Massachusetts General Hospital as the beneficiary to receive all or a portion of your retirement account is a tax-smart way to give as it avoids the income tax your estate or heirs would pay if they received payment from your retirement account.
- Life Insurance: You can name Mass General as the beneficiary to receive the death benefit of an insurance policy.
- Bank or Savings Account: Working with your financial institution, you can direct that all or a portion of the balance remaining in your account be paid to Mass General at the end of your lifetime.
- Investment Account: Similarly, working with your investment broker, you can direct that securities be transferred to Mass General.
The best way to make your legacy gift will depend upon your own unique circumstances. Consult with your estate planner or other advisors to make certain that your gift works just the way you intend.
If you would like more information about how you can join the Mass General Legacy Challenge by making a legacy gift, or if you would like to discuss additional planning ideas, contact us at email@example.com or (617) 643-2220, or download our estate planning guide.