There are many ways to remember Plummer Youth Promise in your will, trust or estate plan.
Naming Plummer in Your Will or Trust
The simplest way to remember Plummer in your estate plans is through a bequest in your will or trust. You may choose to gift a particular dollar amount or a percentage of whatever assets remain after your other obligations have been paid. Typical language is:
I give and bequeath to Plummer Youth Promise, of 37 Winter Island Road, Salem, MA 01970, federal tax identification number 04-2104844, the sum of _______________ dollars ($_____) (or ____ percent (__%) of the rest, residue, and remainder of my estate), for its general purposes.
Life Insurance Policies and Retirement Accounts
You can name Plummer Youth Promise as the beneficiary on life insurance policies and / or retirement accounts at the time of your death. Amounts distributed from your Individual Retirement Account to Plummer Youth Promise can be counted toward satisfying your required minimum distribution for the year, up to $100,000, and can also be excluded from your taxable income.
Charitable Remainder Trusts
You can create a charitable remainder trust which, for a period of time that you specify, makes annuity payments to you or somebody else you choose. When that period of time has ended, the assets remaining in the trust are given to Plummer Youth Promise. A charitable remainder trust cannot be revoked. If you’re interested in establishing a charitable remainder trust, we recommend you consult an estate planning lawyer.
If you have a donor-advised fund, you can name Plummer Youth Promise as a beneficiary of some or all of the balance in the fund.