The Illinois Railway Museum has been around for more than 60 years due to the consistent support of people like you. You can keep IRM on track for the next generation by considering the museum in your estate planning or by including the museum as a beneficiary of your retirement plans.
Bequests and Estate Planning
Perhaps the easiest way to make a planned donation is to include the Illinois Railway Museum in your will or trust. You can make arrangements for the museum to receive either a specific dollar amount or a percentage of the remainder of your estate. To leave a gift to the museum in your will or trust, simply share the language below with your financial planner or attorney.
To Make a Bequest to the IRM General Fund: “I give (the sum of _____ dollars), or (all or % of the residuary of my estate) to the Illinois Railway Museum, 7000 Olson Road, Union, Illinois, in support of the museum’s general purposes.”
To Make a Bequest to the IRM Endowment Fund: “I give (the sum of _____ dollars), or (all or % of the residuary of my estate) to the Illinois Railway Museum, 7000 Olson Road, Union, Illinois, to the museum endowment.”
If you have included IRM in your will or trust, please contact our business office here and let us know so that we may include your contribution in our planning.
Another easy way you can support the Illinois Railway Museum is by naming the organization as a beneficiary of your IRA, 401(k), or other retirement plan. When children or anyone other than your spouse is named as a beneficiary of these plans, they receive just a fraction of the plan's face value because the inherited assets are subject to estate and income taxes. As a tax-exempt organization, IRM will typically receive the full amount of the plan's value.
To name the Illinois Railway Museum as a beneficiary of your retirement plan, just contact your plan administrator to obtain a beneficiary form.