Investing in Excellence

A Bequest can yield immediate tax advantages and reduce the tax burden for your heirs by removing an asset from your estate.

Many patrons find that including the Festival in their Estate Planning allows them to make a more significant contribution to the Festival than would be possible in their lifetime. Bequests may take many forms.

  • Specific bequest:
    The Festival receives a specific dollar amount or specific assets
  • Residuary bequest:
    The Festival receives all or a percentage of the remainder of your estate after debts, taxes, expenses and specific bequests have been paid
  • Contingent bequest:
    The Festival receives property only under certain circumstances, for example, if other beneficiaries predecease you

A bequest to the Festival may not be subject to federal or state inheritance and estate taxes and is, in fact, deductible in calculating your taxable estate. There is no limit on the amount of this deduction. Restricted and un-restricted bequests are allowed, as long as they are in keeping with the policies of Music from Angel Fire. Your attorney should always be consulted when creating your estate plan.

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