Making a Bequest is Simple
Step 1 ———->
Develop Estate Plan
Step 2 ———->
Prepare Documents
Step 3
Specify Bequests
Evaluate your Estate Plan and Planned Giving Objectives
If you do not have a Will or Personal Trust
For noncomplex estates, create a Last Will and Testament using an online tool such as FreeWill, or if desired, confer with an attorney to create a Personal Trust to hold all or part of your assets.
If you have a Will already
Bequeath to MIU by using an attorney to create a codicil (amendment) to your existing Will.
If asset is held in Personal Trust
Bequeath to MIU by amending the instructions to the trustee
Bequeath to MIU:
- Real Estate
- Securities
- US Savings Bonds
- Cash
- Retained Life Estate (you transfer ownership of your home or farm to MIU, while retaining the right to live in the property).
Evaluate your Estate Plan and Planned Giving Objectives
No Will or Trust?
For certain assets you can make bequests without a Will or Personal Trust by simply naming MIU as Beneficiary.
Name MIU as Beneficiary:
- Retirement account
- Life Insurance
- Bank Account
If you have questions about how to start developing an estate plan, the MIU Development Office stands ready to assist. Our Development officers and professional advisors will guide you through each step of the process. Call Eric Stakland (641) 209-5478 or Brad Mylett (641)-472-1196.
| Your Gift | How You Make the Gift | Your Benefits |
|---|---|---|
| Bequest in Your Will or Living Trust | Add a gift for MIU in your will or living trust. Confer with an attorney to add a gift for MIU in your will or living trust. If you have no will or trust, confer with your tax-advisor or lawyer. | Maintain your current lifestyle while making a meaningful gift to support MIU. Enjoy flexibility to change your plans as life changes. |
| Beneficiary Designations | For certain assets you can make bequests by simply naming MIU as sole or partial ben- eficiary of a retirement plan, life insurance policy, or bank account. Contact your plan administrator to request a Change of Beneficiary form or update your beneficiaries online. | Leave your loved ones less heavily taxed assets while leaving your tax deferred Retirement Plan assets to MIU. As a nonprofit organization, we are tax-exempt and will receive the full amount of what you designate to us from your plan. |