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."