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Planned Giving

Passing Along the Love of Nature to the Next Generation

Corrine Smith

Corinne has worked as a Day Captain at the Wells Fargo Family Farm for many years. This work inspired Corinne, and her husband, to include the Minnesota Zoo Foundation in their future plans.

Having grown up in rural Iowa, Corrine Smith is a country girl at heart. She's always enjoyed the outdoors, and hiking is her favorite way to embrace country living and nature. As she says, "Walking down a country road hearing the crunch of gravel under my feet takes me back to my youth."

When her children were young, she and her husband, Sheldon, made sure the family experienced all that nature had to offer. The appreciation of nature must have taken hold, as her son now works as an environmental scientist.

Corrine showing off goatCorrine brings her love of nature and country living to her work as a Minnesota Zoo Volunteer Day Captain at the Wells Fargo Family Farm. As Day Captain she is responsible for coordinating all the activities of the volunteers at the Farm on a specific day. The Farm was designed to show the past, present and possible futures of farming in this country. As our country becomes increasingly urbanized, it is important for people to understand where their food comes from. The Farm is a real life example of this very important message.

A volunteer since 2006, Corrine truly enjoys educating visitors on how a farm works and how the natural world is connected to all of us. For this reason, she and her husband have included the Minnesota Zoo Foundation in their estate plans specifically to support the Wells Fargo Family Farm.

little girl with chicksAs they will tell you, estate planning is an ongoing process. They review their plan every few years to be sure it reflects any changes that need to be made. Their choice to include the Minnesota Zoo Foundation in their plans speaks to their love of the natural world and the mission of the Minnesota Zoo.

Corrine says, "This is a way for me to preserve the natural world and pay it forward for future generations. I'm doing what I can and feel good about knowing I helped."

piggyIf you are interested in learning more about how you can include the Minnesota Zoo Foundation in your estate plans, please contact Linda Carlson at the Minnesota Zoo Foundation at [email protected] or 952.431.9440.

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charitable bequest is one or two sentences in your will or living trust that leave to the Minnesota Zoo an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

Bequest Language

"I give, devise, and bequeath to the Minnesota Zoo Foundation, a non-profit Minnesota corporation, located at 13000 Zoo Boulevard, Apple Valley, Minnesota 55124, the sum of $____ (or, ___ percent of my estate, or, ___ percent of the residue of my estate) to be used for such purposes as the Board of Trustees determines at the time this bequest becomes effective."

 

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to the Minnesota Zoo Foundation or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to the Minnesota Zoo Foundation as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to the Minnesota Zoo Foundation as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and the Minnesota Zoo Foundation where you agree to make a gift to the Minnesota Zoo Foundation and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

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