Choreographing Our Future
Choreographing Our Future
Include Carolina Ballet in your estate planning and create a lasting legacy that will continue to bring world-class ballet to North Carolina.
By joining our Artistic Director’s Society, you’ll receive exclusive, members-only benefits such as invitations our many special events each season. In addition, members are provided special insight into the Ballet’s creative process to be able to see how their estate gift will contribute to the art form for future generations.
We have flexible estate planning options that will allow you to specify how your gift will support the ongoing needs of Carolina Ballet while simultaneously meeting your philanthropic goals.
Bequests are the most popular type of deferred gift. You can include a bequest in your original will or living trust, or add one later by an amendment. The gift can be a specific amount of money, a specific piece of property, or a percentage of your estate. A bequest gift is very flexible and allows you to retain control over your assets should you need them during your lifetime.
You can designate Carolina Ballet as the beneficiary of your IRA or other retirement assets such as 401(k) and 403(b) plans. Carolina Ballet will receive the funds upon your passing. You can leave just a portion to Carolina Ballet or the entire balance. Because of income tax considerations, this is one of the most tax-wise ways you can make a gift. Alternatively, you can make outright gifts during your lifetime from these same assets which Carolina Ballet can use immediately.
You may have a paid-up life insurance policy that you no longer need. You can make a gift by transferring the policy outright to Carolina Ballet or naming Carolina Ballet as a beneficiary, similar to what you are able to do with retirement assets. Or you might think about taking out a new policy benefiting Carolina Ballet and receive tax benefits with each premium paid.
A charitable trust is another way to make a gift and receive income for life. It is more flexible in nature than a gift annuity and can allow you to meet different personal goals. Your payments can be either fixed or variable in amount. A partial income tax deduction is another appealing feature.
This trust arrangement allows you to make current gifts to Carolina Ballet while passing your assets along to heirs sometime in the future, often with greatly reduced estate and gift taxes. It can also be arranged so that the remaining trust principal returns to you at the end of the trust term.