Since the founding of the museum in 1935, planned gifts have played a significant role in sustaining the museum’s artistic and financial vitality. Please consider including Tacoma Art Museum in your estate plans.
TAM’s members and friends support the Museum in a number of ways, most often through gifts of outright cash and securities. In addition to cash and securities, planned gifts, such as gifts designated via wills and trusts and beneficiary designation accounts, enable anyone to make a significant and lasting contribution without impacting your present financial security.
We would be honored to work with you and your advisers to craft a gift which best aligns with your charitable and financial goals and invite you to join TAM’s Planned Giving group. Your planned gift enables you to continue TAM’s efforts to connect future generations to TAM’s world class building, exhibitions, public programs, and academic resources.
Gifts in your Will or Trust (Bequests; specific, residuary, and contingent gifts made by will).
Making a gift to Tacoma Art Museum in your will or trust is easy. Your attorney may include the necessary language in your will, a codicil to your will, or your revocable living trust. A bequest to the Museum may also help your meet your financial and estate-planning goals since an estate-tax charitable deduction for the entire amount of the gift is allowed. Here are two suggested clauses to include in these documents that you should review with your attorney:
- Unrestricted: I give, devise, and bequeath [identify here the specific sum of money, the specific asset or the portion of the residual estate] to *Tacoma Art Museum [or TAM], 1701 Pacific Avenue, Tacoma, WA 98402, in such a manner as the Board of Trustees of *Tacoma Art Museum [or TAM] may direct.
- Restricted: I give, devise, and bequeath [identify here the specific sum of money, the specific asset or the portion of the residual estate] to *Tacoma Art Museum [or TAM], for the benefit of *Tacoma Art Museum [or TAM], 1701 Pacific Avenue, Tacoma, WA 98402, specifically for (describe the primary purpose, such as public programs, artistic efforts, TAM’s building, etc. Use general language so that the restriction is not so limited as to prevent *Tacoma Art Museum [or TAM] from applying the money in the most efficient way.)
If it is determined by the Board of Trustees of the *Tacoma Art Museum [or TAM] that all or part of the gift is no longer needed, or for any reason cannot be used for the stated purpose, then such portion of the gift may be used for other related purposes, which *Tacoma Art Museum [or TAM] Board of Trustees deems to the in the best interests, considering the original purposes described above.
Please email firstname.lastname@example.org or call 253-272-4258 x3015 to explore if this option is right for you. This is not professional legal or tax advice. Please consult your professional legal adviser about the consequences of this gift to your situation.