Truman Legacy Society
The Truman Legacy Society is a group of people who have, through their estate plans, invested in the Truman Library Institute’s future. The Truman Legacy Society was created to acknowledge and thank these supporters for their generosity and to connect them to the Harry S. Truman Library and Museum in meaningful ways.
We hope you will consider including the Truman Library Institute in your estate or financial plans, and join the 27 other Truman Legacy Society members whose commitments total $3.6 million. With your planned gift, you may enjoy financial or tax benefits while also helping preserve the enduring legacy of America’s 33rd president. Your gift, whatever its size, will help fulfill the Truman Library Institute’s mission to enrich the public’s understanding of history, the presidency, public policy and citizenship, for generations to come.
Most importantly, estate planning ensures that the people and causes you care most about benefit from your estate, as you wish, and it has additional advantages for many people, including reducing estate taxes, providing a life income stream, providing a current income tax deduction, helping to reduce or avoid capital gains tax, and offering an opportunity to support the vital work of the Truman Library Institute with a more generous charitable gift than you thought possible.
The simplest way to make a Planned Gift is by naming the Harry S. Truman Library Institute in your will. A bequest is a meaningful way to support the Institute without affecting your cash flow during your lifetime. Your attorney can include it when you prepare or revise your will or you can add a codicil at any time.
Many donors ask us the proper way to name the Truman Library Institute in their estate plans. The following language can be used in a variety of estate planning tools.
I give and bequeath the sum of $ ____ (or ____ % of my estate) to the Harry S. Truman Library Institute for National and International Affairs, 5151 Troost Ave., Ste. 300, Kansas City, MO 64110 to be used for its general purposes.
A charitable trust is a flexible way to serve your current and long-term financial and philanthropic interests. Through a charitable trust, a donor gives cash, stock, real estate, or other assets to a trust, which is invested and managed by a professional financial institution of the donor’s choice. Once created, a charitable trust is irrevocable.
Life insurance can be a valuable tool in estate planning. A beneficiary named on a policy, whether an individual or an organization, can receive the proceeds directly without having to go through the probate process. Another option is to make the proceeds payable to your estate so it can be included in the total when specific or percentage bequests are made.
A charitable gift annuity can provide you with annuity payments for the rest of your life and ultimately result in a gift to support the organization’s programs.
If you are over the age of 65 and have at least $10,000 to donate, please contact us so we can send you a gift annuity information packet. It will explain more fully the wonderful opportunities a gift annuity can offer.
One of the easiest ways to make a gift to the Truman Library Institute is by designating it the ultimate recipient of a bank account, certificate of deposit, or security.
You can instruct any financial institution in which you have an account or the holder of a security to place your asset in a trust (often called a Totten Trust) to be transferred, upon death, directly to an organization or individual. This will allow you to use the asset during your lifetime and to give the remaining asset to the Institute upon your death. Most Totten Trusts can be created easily, using a form obtained from your financial institution or the holder of the account or security.
With the increase in the variety of retirement plan assets, an important aspect of your estate planning should be making sure that these accounts go to the people or organizations you wish to receive them upon your passing.
Simply name the Harry S. Truman Library Institute a beneficiary of your retirement plan. You will retain complete control during your lifetime, and you can change your beneficiary at any time if your circumstances change.
NOTE: You also may be eligible to make annual charitable gifts using funds withdrawn from retirement accounts, eliminating the income tax that would otherwise be due on such withdrawals.
Please note: This information will help you get started, but it is summary in form and general in nature and does not apply to all individuals. Please consult your tax, legal or financial advisors concerning the specific details and consequences of making a planned gift to the Truman Library Institute and to help you determine which approach is best for you.
JOIN THE TRUMAN LEGACY SOCIETY
When you notify us that you have named the Truman Library Institute as a beneficiary of your will, retirement plan, charitable trust or other deferred gift, we will welcome you as a Truman Legacy Society member where you can enjoy the benefits of the Truman Legacy Society membership and share in the pride of creating a legacy for future generations. Truman Legacy Society receive:
- An annual Truman Legacy Society dinner event at the Truman Library
- Invitations to all Truman Library Institute private events with guest speakers and dignitaries
- Exclusive access to the Library and Museum through special programs and guided tours
- Recognition at the Truman Library and in all Institute donor communication pieces
- Special communiqués, updates and messages throughout the year
Thank you for your interest in making a Planned Gift to the Harry S. Truman Library Institute. Your gift, whatever its size, will help fulfill our mission, to preserve the enduring legacy of America’s 33rd president to enrich the public’s understanding of history, the presidency, public policy, and citizenship. We will gladly help you with every step of this process. For more information and guidance, please contact:
Director of Development
People who have made the Truman Library Institute part of their estate or financial plans ensure that the impact of their generosity will live on for generations to come.
We deeply appreciate your interest and will be in touch with you as soon as possible.