Klehm relies heavily on monetary gifts to sustain the Arboretum and educate visitors about the importance of trees and plants in our lives. While cash gifts are always welcomed and appreciated, please consider supporting Klehm for years to come through planned estate giving to the Bur Oak Fund, an endowment guided by the Klehm Arboretum Foundation. We will collaborate with you and your financial planner to create a plan to support Klehm’s mission to maintain a living museum for the enjoyment, education, and inspiration of all people well into the future, thanks to the long-term financial security provided by the endowment. We have a master plan for the growth and expansion of our gardens and grounds and there are new areas we would like to add to the garden. Donations need to be in place to construct such new sites and legacy gifts are a significant part of the process.
Wills are one of the simplest and most common ways to bequest a gift to help us carry on Klehm’s mission. Estate planning means that you designate in your will or trust how your assets will pass to the people and organizations you care about. If you don’t leave a will or trust, state law determines how your assets will be divided. We hope, as you plan your estate, you’ll consider the gardens and include Klehm Arboretum & Botanic Garden as a beneficiary.
KABG tax ID #36-3676875
KAF tax ID #20-5485744
There are many different types of trusts serving a variety of purposes. The advice of an attorney and qualified financial planner is necessary to assess your situation and decide which trust might best serve your goals. It is easy to include a gift to the Bur Oak Fund through your trust. For example a Charitable Remainder Trust can provide you or your loved ones with a life-income stream while also providing a gift to support the programs of Klehm Arboretum & Botanic Garden. Please check with your financial advisor to determine what is best for your situation.
Retirement plan assets
With the increase in the variety of retirement plan assets, an important aspect of your estate planning should be making sure that the money invested in these accounts goes to the people or organizations you wish to receive them.
Examples of these different retirement plans include IRAs, pension plans, Keogh, and 401(K) accounts. If you are contemplating a charitable gift in your estate plans, using these assets can maximize your donation while allowing other property that is not subject to some taxes to be passed to your beneficiaries. Consult your financial adviser to see what is best for your particular estate plan.
If you have owned stock that has increased in value for at least a year, you can donate that stock to a charitable organization without having to pay capital-gains tax on the increase. Additionally there is an income-tax charitable deduction equal to the full current market value of the securities (up to 30 percent of the donor’s adjusted gross income). Using appreciated stock to fund a gift annuity offers added tax benefits to that gift.
In order to receive the most favorable tax treatment, you must donate the securities to Klehm Foundation – you cannot sell the stock, then donate the proceeds. If you would like more information on how to make this transfer, please contact our Executive Director at 815-965-8146.
Life insurance can be a valuable tool in estate planning and also offers a wonderful way to make a charitable gift. By naming Klehm Foundation as beneficiary on a life insurance policy, the proceeds can be paid directly without having to go through probate. It is possible to make gifts with “paid-up” policies, policies with premiums still due, policies where you can retain the right to a policy’s cash value, or by assigning the dividends in a participating policy. Check with your insurance agent to see which option would be best for you.
Gift acceptance is contingent upon the approval of KAF Trustees and KABG Directors.