Dedicated Museum members can help provide for the continued success of Mystic Seaport by including the Museum in their estate plans. This is a powerful way to support Mystic Seaport far into the future. Through your will, retirement account, or life insurance, you can contribute something of value to Mystic Seaport—a wonderful and much-needed source of future support.
Life Insurance and IRA Gifts: Simple Yet Powerful
1) Named Beneficiary: Name Mystic Seaport as a beneficiary on an existing life insurance plan, brokerage account, IRA or other retirement plan.
2) Direct Bequest: Name Mystic Seaport in your will or estate plans for a specified gift, either a dollar amount or percentage of your assets, tangible property or residue.
3) Structured Gift: Ask your attorney about the tax benefits and income options of charitable gift annuities, charitable lead or remainder trusts or other structured gifts.
Creating a Legacy
1) Outright Gift: When you give your residence or other property directly to Mystic Seaport you become eligible for a tax deduction and provides direct support to Mystic Seaport.
2) Bequest Gift: A Gift of real estate through your will provides your estate an estate tax deduction and supports the Mission of Mystic Seaport.
3) Charitable Remainder Unitrust: Use your residence of other property to establish a charitable remainder unitrust. The trust may distribute income to you during your lifetime and provide support to Mystic Seaport in the future.
Give an Inspiring Gift
1) Charitable Lead Trust: Income from the trust will be paid to Mystic Seaport for a defined period and then the principle will revert to the donor or donor’s family.
2) Charitable Gift Annuity: A gift of cash or other property to Mystic Seaport will be used to establish an annuity contract with a guaranteed fixed payout to one or more beneficiaries.
3) Charitable Remainder Trust: Income from the trust may be distributed to the donor or other named beneficiaries for a defined period of time, after which the corpus is distributed to Mystic Seaport.
Over the past 80-plus years, countless members and friends have given generously to support Mystic Seaport. Whether honoring the memory of a loved one, fulfilling a moral obligation, expressing gratitude for a service well-performed, or demonstrating support for the educational mission of the Museum, this philanthropic support has been a wellspring of success for Mystic Seaport. You can help ensure that the vision of the institution’s founders will carry forward for new generations of Americans by including Mystic Seaport in your estate plans.