Planned Giving

Edwyn H. Hames Society
Leaving Your Legacy for the South Bend Symphony Orchestra


Dr. Hames was the founding Music Director and Conductor of the South Bend Symphony from1932 until his retirement in 1972. The Edwyn H. Hames Society has been established to recognize and honor those who wish to follow his leadership by remembering the South Bend Symphony Orchestra Association and ensuring its artistic greatness in perpetuity.

 

Legacy Options


Charitable Bequests in Your Will or Trust

A charitable bequest supports the work of the South Bend Symphony after your death. A charitable bequest may be included at the time of writing a will or revocable living trust - or it may be added later by a codicil or amendment to your will or trust.  A bequest can be changed at any time (revocable), does not affect your current income and may reduce the amount owed in estate taxes.  A bequest or estate gift may also be used to create an Endowment, subject to the conditions described under the paragraph “Endowments,” below.  You or your attorney may contact Agnieszka Rakhmatullaev at the South Bend Symphony Orchestra for sample bequest language at (574)232-6343, or by email at executive@southbendsymphony.org

Retirement Plans

Retirement fund benefits are the most heavily taxed asset in many estates due to the liability of heirs for income and estate tax. Over half of your retirement plan assets can be reduced by taxes at your death. By naming the South Bend Symphony Orchestra to receive all or a portion of your qualified retirement plan such as an IRA, 401(k) or Keogh plan, you can offset some of the taxes your loved ones have to pay and preserve more of your estate for the people and organizations that matter the most in your life. To designate us as beneficiary for an IRA, the language should be: South Bend Symphony Orchestra, Taxpayer ID# 35 6042189, South Bend, IN. Those who are 70 ½ may make gifts of up to $100,000 during calendar year 2013 from their individual retirement accounts directly to the South Bend Symphony Orchestra Association without having to include any of the transfer as a part of their gross income.   The transfer must be made directly from the IRA to the South Bend Symphony.  Transfers count toward the required minimum distribution for 2013.  This applies only to IRAs and not to 401(k) s or other retirement vehicles and does not qualify as a charitable deduction.  The benefit the gift is that it reduces without impact the IRA owner’s gross income.  Please consult with your attorney and/or tax advisor for further information.

Endowments

In consultation with the Symphony Development Officers, you may establish an endowment that will provide ongoing support for a particular program of the South Bend Symphony or for general support.  You may name your endowment fund in honor of or as a memorial to someone or a symphony related cause.  A minimum gift, to be determined by the intended purpose of the fund, is required to create a named endowment.  Please contact the South Bend Symphony for more information.

Charitable Lead Trusts

This is a trust, created in consultation with your attorney that will save you and your family significant gift and estate taxes – yet still provide that the trust assets will return to you or your loved ones after a specified period of time.  During this time period, income from the trust is paid to support the particular program of the South Bend Symphony – or for the Symphony’s general support. 

Charitable Remainder Trusts

A charitable remainder trust allows you to make a gift and receive fixed payments – or payments that may grow along with the investments of the trust. The donor receives an income tax charitable deduction for a portion of the gift.  At the end of the trust, the residual is used for the benefit of the South Bend Symphony as you choose.  Your attorney must create the trust document and you or another party may serve as trustee.

Life Insurance

A gift of life insurance is an easy and appealing way to make a significant future gift to the South Bend Symphony.  A review of insurance needs might disclose that some policies are no longer as useful as they once were. You may transfer ownership of an existing policy and receive an income tax charitable deduction for the cash value.  It is also possible to name the South Bend Symphony Orchestra as beneficiary only of a new or existing life insurance policy. To designate us as owner and/or beneficiary of life insurance, the language should be: South Bend Symphony Orchestra, Taxpayer ID# 35 6042189, South Bend, IN. 

 

Contact us


For more information about the ways to support the South Bend Symphony Orchestra and how to join the Edwyn H. Hames Society, please contact Agnieszka Rakhmatullaev, Executive Director, at (574)232-6343, or by email at executive@southbendsymphony.org.

The South Bend Symphony Orchestra Association is a registered 501(c)3 charitable organization.   Please consult with your attorney and/or tax advisor for advice and further information about any of the options listed above.

 

 

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(574) 232-6343

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(574) 235-9190

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(574) 631-2800