As you work with an attorney or financial adviser to prepare your estate, you'll have a variety of options to leave your legacy. Below you'll find descriptions of a few options that the MML Foundation is prepared to accept. You should work with your attorney or financial adviser to determine what is best for you and if you're interested in a different planned giving vehicle, reach out to us to have a conversation.
BEQUESTS
A charitable bequest is one of the easiest ways that you can leave a gift to the MML Foundation that will make a lasting impact.
Potential benefits of a bequest
- Receive an estate tax charitable deduction
- Reduce the burden of taxes on your family
- Leave a legacy
How a bequest works
With the help of an attorney, you can include language in your will or trust specifying a gift to be made to family, friends or the MML Foundation as part of your estate plan, or you can make a bequest using a beneficiary designation form.
Some ways to leave a bequest to the MML Foundation
- Include a bequest to the MML Foundation in your will or revocable trust
- Designate the MML Foundation as a full, partial or contingent beneficiary of your retirement account, such as an IRA, 401(k), 403(b) or pension.
- Name the MML Foundation as a beneficiary of your life insurance policy.
A bequest may be made in several ways
- Percentage bequest – make a gift of a percentage of your estate
- Specific bequest – make a gift of a specific dollar amount
- Residual bequest – make a gift from the balance or residue of your estate
GIFTS OF STOCKS AND BONDS
A gift of appreciated securities, including stocks or bonds, is an easy way for you to make a gift to the MML Foundation.
Potential benefits of a gift of stocks or bonds
- Avoid paying capital gains tax
- Receive a charitable income tax deduction
- Enjoy possible increased income
You can even make a gift today by electronic transfer.
It's easy. Please contact us for delivery instructions to make a transfer from your brokerage account to the MML Foundation.
GIFT OF RETIREMENT ASSETS
A gift of your retirement assets, such as a gift from your IRA, 401(k), 403(b), pension or other tax deferred plan, is an excellent way to make a gift to the MML Foundation.
If you are like most people, you probably will not use all your retirement assets during your lifetime.
Potential benefits of gifts of retirement assets
60 percent to 65 percent of your retirement assets may be taxed if you leave them to your heirs at your death. Another option is to leave your heirs assets that receive a step up in basis (such as real estate and stock) and give the retirement assets to the MML Foundation. As a charity, we are not taxed upon receiving retirement plan assets.
Leave your retirement assets to us
Your retirement assets may be transferred to the MML Foundation by completing a beneficiary designation form provided by your plan custodian. If you designate the MML Foundation as beneficiary, we will benefit from the full value of your gift because your IRA assets will not be taxed at your death. Your estate will benefit from an estate tax charitable deduction for the gift.