Estate Planning

Chicago's urban youth will be inspired and guided to positively transform their lives, families, and communities.

Planned giving arrangements can benefit both donor and charity. You can direct cash, stock, or tangible assets to a charity, minimizing taxes and allowing you to leave more to your family. Following are some popular giving devices. This information is not legally binding; please consult an attorney for advice.

  • Bequests - Name MMAC in your will. Sample language: "I hereby give and bequeath [name dollar amount or percentage of the residue of your estate] to Midtown Educational Foundation, located at 718 S. Loomis Street, Chicago IL 60607 (tax ID #36-3417278), or its successors-in-interest, to be used for general charitable purposes."

  • Life insurance - You don't need a large estate to make a significant gift.

  • Donor-Advised Fund – Create your own “charitable checkbook.”

  • Charitable Lead Trust - An innovative way to pass appreciating assets on to family members while making gifts in the interim.

  • Charitable Remainder Annuity Trust - Make a large gift and receive a fixed-income payout each year.

  • Charitable Remainder Unitrust - Make a large gift and receive a flexible source of retirement income.

  • Retirement Plan – As with trusts, you can list charitable organizations as the beneficiaries of your retirement fund assets.

  • Retained Life Estate - Receive a large deduction by donating a residence while retaining the right to live there for life.

Your legacy can help sustain MMAC's work for generations to come. For details, please contact your estate planning advisor. To learn more about MMAC, please contact MMAC’s Associate Director, Terry Sullivan at (312) 738-8303 or tsullivan@midtown-metro.org.