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Osmo Vänskä /// Music Director

Supporting and Sharing a Love of the Orchestra

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Dr. Jerry Artz

"One thing an estate plan addresses is what's special in life," says Dr. Jerry Artz of the Laureate Society. "It's a pleasure and an honor to be able to give to the Minnesota Orchestra—because music unites us all, and great music well played is a cherished experience especially when shared."

Jerry shares one of his fondest Orchestra Hall memories. "I remember an amazing piano recital given by Vladimir Horowitz. Every seat in the Hall was taken and there was a subdued, nervous noise among the audience members in anticipation of the concert. When Horowitz emerged, the crowd's deep appreciation and respect manifested itself with an explosive applause. That was more than 30 years ago, and the memory is still vivid today."

Jerry reflected on what mattered most to him when he created his estate plan—and he knew that music was essential. He explains: "I always fear that the arts may be the first to suffer funding cuts. Hopefully my future gift will maintain the high-quality Orchestra we now have." To achieve his goal while keeping his estate plan flexible, he structured his future gift to the Orchestra and other charities using percentages rather than fixed dollar amounts.

Ever since joining the Laureate Society, Jerry has found his connection to the Orchestra has continued to grow deeper. "I've met many other donors through the special intermission receptions in the green room, the annual Laureate (Society) luncheon and other activities, and it's been fun to share a love of the Orchestra with these new friends. None of this would have been possible had I not told the Orchestra of my estate plans!"

eBrochure Request Form

Please provide the following information to view the brochure.

A charitable bequest is one or two sentences in your will or living trust that leave to Minnesota Orchestral Association a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

Bequest Language

"I, [name], of [city, state, ZIP], give, devise and bequeath to the Minnesota Orchestral Association [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to Minnesota Orchestra or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to Minnesota Orchestra as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to Minnesota Orchestra as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and Minnesota Orchestra where you agree to make a gift to Minnesota Orchestra and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

Personal Estate Planning Kit Request Form

Please provide the following information to view the materials for planning your estate.