MLN Charitable Trust
The Missouri League for Nursing
(MLN) Board of Directors is pleased to announce this program to assist
you in making decisions regarding donations to charity. The MLN is a 50lc(3)
organization and qualifies as a "public" charity by the IRS.
Your contributions will assist MLN in meeting its mission to support the
delivery of quality health care by nurses and other health care providers
through education, collaboration, and information.
BEQUESTS
Leave your legacy by making a gift in your will to the MLN Charitable
Trust. Be as clear as possible in describing to your attorney what you
want to be given and to whom when preparing your will. Here are sample
ways to make a bequest:
- Specific bequest - a specific item to a specific beneficiary.
- General bequest - usually a gift of a stated sum of money (Note: if
there is not
enough cash in the estate to meet the bequest, other assets must be
sold to meet the
cash bequest.)
- Contingent bequest - made on condition that a certain event occurs
before distribution
to the beneficiary. Also appropriate if you want to name a secondary
beneficiary
in case the primary beneficiary does not survive you.
- Residuary bequest - a gift of all the "remainder" of your
assets after all other
bequests, debts, and taxes have been paid. (You may provide for this
according to
percentages of the remainder rather than specifying a dollar amount
to ensure that
your beneficiaries receive the proportions you desire.)
The previous items can apply in cases of bequests to individual heirs
or to charitable organizations. The following items are special considerations
when you plan a charitable bequest to help support our mission.
- Unrestricted bequest - a gift for our general purposes, to be used
at the discretion of
our governing board. A gift like this allows us to determine the wisest
and most
pressing need for the funds received.
- Restricted bequest - allows you to specify how the funds are to be
used. If you have a
special purpose or project in mind, please consult with us before you
make your will
to be certain your intent can be carried out.
- Honorary or memorial bequest - a gift given "in honor of"
or "in memory" of
someone. We are pleased to honor your bequests and have many ways to
grant
appropriate recognition.
- Endowed bequest - allows you to restrict the principal of your gift
and allows us to
hold the funds permanently and use only the investment income they generate.
An
endowment given in this manner means that your gift can continue giving
indefinitely.
This information
is being provided as a service and should not be construed as legal, tax,
or financial advice. Please consult your tax consultant and your attorney
for legal advice regarding your specific situation and for the preparation
of any legal documents.
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