Legacy Giving

Retirement Plans

Your contribution allows us introduce new generations to the Listening Point where they can experience what Sigurd was so passionate about firsthand.

Benefits

You may be able to escape both income AND estate taxes levied on the residue left in your retirement account. Since LPF is a non-profit organization, we won’t pay income tax on the distribution, nor will the gift be subject to estate tax. The entire amount comes to us, and your heirs will benefit from a reduced estate tax burden.

Continue to take withdrawals during your lifetime.

Change the beneficiary if your circumstances change.

Support future LPF work.

How It Works

Your financial advisor and LPF’s gift planning professionals can help you determine whether income from a gift plan or withdrawals from your retirement account would most benefit your heirs. For more information, contact.

Steps:

  1. You name LPF as the beneficiary of a qualifying retirement plan through a beneficiary designation form, ensuring assets will not be included in your taxable estate. An extra step may be required to designate a 401(k).

  2. After your lifetime, the residue of your plan passes to LPF tax-free and to any other named heirs.

Ensure your gift is received

Request a beneficiary form from your bank or plan administrator. This form—not your will—determines how these assets are distributed after your lifetime.

  1. Write in Listening Point Foundation as beneficiary or partial beneficiary using our business address:. 106 E Wilson St, Ely, MN 55731

  2. If the form requests a social security number, use our tax identification number: 39-1929276. If the form asks for a date of birth, use our date of incorporation: January 2010.

  3. Return the beneficiary form to your plan administrator. Send us a copy as well, sharing as much account information as you’re comfortable with so we can correctly identify and claim your gift. (e.g., account type, account number, approximate value).

  4. When creating your will or trust, include a list of your non-probate assets and the beneficiaries’ contact information. Also be sure to speak to your executor/trustee about providing copies of death certificates, which most custodians require for beneficiary claims.

More Information

To learn more and talk with us please contact our staff by emailing giving@listeningpointfoundation.org or call (218) 365-8889