Looking Out for the Orchestra's Future
"Even though I plan to live for a very long time, I made sure—early on—that the Orchestra would be included in my estate plans."
Minnesota Orchestra Laureate Society member Laura Delavie has been a subscriber to the Orchestra for more than 15 years. Like many, Laura traces her first memory of the Orchestra to a middle school field trip. Since then, she has accomplished a great deal, including founding ALCEMIS, a consulting firm that works with business leaders to facilitate innovative thinking that leads to improved performance and sustainable growth.
Laura remains in awe of the Orchestra and values every season she attends. "There have been many times when I kept the program book and went looking for a piece I'd heard because I found it so moving."
Using Her Estate Plans to Give Back
When life events required Laura to reassess her estate plans, she immediately thought of the Orchestra. "Classical orchestral music has stood the test of ages and affects people in ways other music often doesn't," she says. "I wanted to ensure that it continues to be taught and played."
Rather than providing a cash gift through her will, Laura named the Orchestra as beneficiary on her life insurance and retirement accounts. Because the Orchestra is a tax-exempt entity, her estate will receive a charitable deduction for these gifts. Money from her retirement plan will be transferred to the Orchestra tax-free, a benefit unavailable to individuals named as retirement account beneficiaries.
For Laura, the real benefit is knowing that she's sustaining the future of something she loves. "I don't have children, but if and when I do, I will still allocate part of my estate to the Orchestra. I feel so strongly in the value it brings to enrich our lives."
The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.