Estate Gifts

Make a donation in your will or other long-term plans, and help build a better future for people everywhere with cancer.

Bequests and Wills

Remembering MSK in Your Estate Plans

A bequest is a gift through your will or living trust that costs you nothing now but provides support to MSK after your lifetime. Bequests offer flexibility and can be structured to fit your personal situation. The gift is revocable, so you can change your mind at any time should your circumstances change.

You can make a bequest of cash, marketable securities, real estate, or personal property such as art or jewelry. Or you can simply give us a percentage of your estate.

Sample Bequest Wording

Although legal consultation is advisable before you establish any type of will provision, you can make your gift in as little as one sentence:

“I give and bequeath to Memorial Sloan Kettering Cancer Center, 1275 York Avenue, New York, New York 10065, federal tax identification number 13-1924236,__% of my residuary estate (or $__, or other property).”

Please contact us to receive our Legacy Planning brochure, or to discuss other ways to direct your support, such as designating your gift for a special purpose or program within the scope of MSK’s mission.

Next Steps

  1. Obtain legal help before establishing any type of will provision.
  2. Contact our Office of Planned Giving staff for information or assistance. Notifying us of your intended bequest allows us to thank you and make sure we have a clear understanding of your plans. It also gives us an opportunity to welcome you into the Cullum Society. Your notification will be treated confidentially, if you so desire. Call toll free: 800-688-1827 or email: plannedgiving@mskcc.org.
  3. Please use our legal name, address, and Federal Tax ID if incorporating MSK into your plans:
    Legal Name: Memorial Sloan Kettering Cancer Center
    Address: 1275 York Avenue, New York, NY 10065
    Federal Tax ID Number: 13-1924236

Beneficiary Designations

3 Ways to Make an Impact Beyond Your Will

 

Not everyone wants to make a gift in their wills or estates. Some prefer the increased flexibility that a beneficiary designation provides by using:

  • Life insurance policies
  • Savings accounts/certificates of deposit
  • IRAs and retirement plans

 

Life Insurance

A life insurance policy could help you make a much larger contribution than you ever thought possible.

Ways to Give

  • Name MSK as the recipient of all or part of the proceeds of a life insurance policy that is no longer needed for family protection.
  • Contribute a paid-up policy during your lifetime, resulting in a charitable deduction if you itemize for an amount approximately equal to your policy’s cash surrender value.
  • Depending on state law, purchase a new life insurance policy in which you name MSK as beneficiary or co-beneficiary.

Savings Account or Certificate of Deposit

A savings account or certificate of deposit can provide immediate support to MSK after you die if you name MSK as a beneficiary on a payable-on-death account. It’s easy. Just ask your bank representative to explain the steps you need to take.

With a payable-on-death account, you maintain control of the assets throughout your life. If your circumstances change, you may revoke the gift, withdraw the assets, or close the account.

A payable-on-death account is not available in all states.

Retirement Account

Although IRAs and 401(k) accounts are excellent vehicles to accumulate assets for use during retirement, they are far less effective for transferring wealth to your loved ones. Distributions made from your retirement account assets to your designated beneficiaries will be taxed at their ordinary income tax rates. As a nonprofit organization, we are tax-exempt and will receive the full amount of what you designate to us from your plan. It is one of the simplest and most tax-efficient ways to leave a legacy at MSK.

Your Next Steps

  1. Contact your plan administrator, life insurance company or other financial institution to request a change-of-beneficiary form.
  2. Name Memorial Sloan Kettering Cancer Center (MSK) as a beneficiary of all or a percentage of the account, plan or policy.
  3. Return the updated form to your plan administrator, life insurance company or other financial institution.
  4. Contact our Office of Planned Giving staff for information or assistance. Your notification will be treated confidentially, if you so desire. Call toll free: 800-688-1827 or email: plannedgiving@mskcc.org.
  5.  Please use our legal name, address, and Federal Tax ID if incorporating MSK into your plans: 
    Legal Name: Memorial Sloan Kettering Cancer Center
    Address: 1275 York Avenue, New York, NY 10065
    Federal Tax ID Number: 13-1924236

Information contained herein was accurate at the time of posting. The information on this website is not intended by Memorial Sloan Kettering Cancer Center as legal, tax, financial or other advice. For such advice, please consult an attorney or tax advisor. Any references to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results. Consulting with an attorney skilled in estate planning is essential to developing an estate plan that meets your particular circumstances. The concepts discussed here are intended to suggest strategies and are presented for illustrative purposes only.

New York residents: A copy of our most recently filed financial report is available from the Charities Registry on the New York State Attorney General’s website ( www.charitiesnys.com) or, upon request, by contacting the New York State Attorney General, Charities Bureau, 28 Liberty Street, New York, NY 10005, or Memorial Sloan Kettering Cancer Center, 1275 York Avenue, New York, NY 10065. You also may obtain information on charitable organizations from the New York State Office of the Attorney General at www.charitiesnys.com or (212) 416-8401.