A bequest is a gift made through your trust or will. You can leave a bequest of a specific amount of money, property or investments; a percentage of your estate or the remainder of your estate. It is a popular and flexible ways to support St. Pete Opera and creating a permanent legacy.

When St. Pete Opera is named a beneficiary of a life insurance policy, any premiums paid qualify for charitable income tax deductions. Naming St. Pete Opera as a beneficiary of all or part of your retirement plan proceeds is a cost-effective way of making a gift and will protect those assets from both income and estate taxes.

An IRA Charitable Distribution is a qualified charitable distribution (QCD) that is generally a nontaxable distribution made directly by the trustee of your IRA to an organization that is eligible to receive tax deductible contributions. You must be at least 70½ when the distribution is made. The maximum annual exclusion for QCD is $105,000. If you file a joint return, your spouse can also have a QCD of $105,000.

Charitable remainder trusts allow you to make a gift to St. Pete Opera while retaining a benefit from the assets you give. These separately managed trusts can be tailored to meet your financial goals with respect to the payout rate, type of income stream (variable or fixed), and payment schedule. To establish a remainder trust, you make an irrevocable contribution of cash, securities, or other property into a trust. The trust pays an income stream to one or more named beneficiaries (which can include you) for life and/or for a set term of years (not to exceed 20), and St. Pete Opera receives the right to principal as a remainder interest. Establishing such a trust generally entitles you to claim an immediate income-tax charitable deduction.