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BENEFICIARY DESIGNATIONS

BENEFICIARY DESIGNATIONS

One of the simplest ways you can ensure that our region’s future generations grow up healthy – not hungry – is to name Second Harvest Northern Lakes Food Bank as your beneficiary.

Estate Plan Gifts

Retirement Assets

You can name Second Harvest Northern Lakes Food Bank as a beneficiary of your Individual Retirement Account (IRA), 401(k), or other retirement plan.  You retain control of your assets, receive estate tax savings, avoid significant tax burden for your heirs, and can adjust your designation as circumstances change.

Life Insurance

You can name Second Harvest Northern Lakes Food Bank as a beneficiary of your life insurance.  You can irrevocably donate an existing policy you no longer need and receive an immediate charitable income tax deduction or donate your life insurance outright.

Life Income Gifts

Charitable Gift Annuity

You can transfer cash, securities, or other assets to Second Harvest Northern Lakes Food Bank in exchange for fixed annual payments for life.  Remaining principal will benefit our food bank.  You receive payments for life (now or later), an income tax deduction and potential savings on capital gains tax.

Charitable Remainder Trust

You can transfer assets into a trust that pays you income for life or a fixed number of years.  Remaining principal will benefit our food bank.  You receive income for the period you set, an income tax deduction and potential savings on capital gains tax.

Other Gifts

Charitable Lead Trusts

You can provide an income stream to Second Harvest Northern Lakes Food Bank for a specified term while allowing you to pass on appreciating assets to your heirs in the future.  You reduce your gift and estate taxes and reduce or eliminate transfer taxes due when principal reverts to your heirs.

A legacy gift is best made with the counsel of your legal, tax or financial advisor. The information provided here is for illustrative purposes only and should not be considered investment, legal, accounting, tax or other professional advice.

Please let us know if you establish a future or planned gift to benefit Second Harvest Northern Lakes Food Bank, so we can say “thank you” now.

For more information please contact:
Shaye Moris, Executive Director
(218) 336-2300
shaye@northernlakesfoodbank.org.