How the McCoys are Supporting the Future of the Arboretum Through Their Trust and IRA
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Margaret (Maggie) McCoy and her late husband, Mike, became members of The Morton Arboretum more than 25 years ago. They first began exploring the Arboretum in the 1980s with Maggie’s cousin from Orland Park who loved to come see the daffodils in bloom. Today, Maggie enjoys joining staff-led curated walks and hearing from Arboretum scientists about research happening around the globe. “When there’s an opportunity to listen to scientists, I’m all in,” she says. “I also really enjoy walking the trails and discovering various nooks and crannies throughout the Arboretum. There are so many surprises all over the place.”
When Maggie and Mike began to consider their legacy, they knew they wanted it to have a meaningful impact. “Because we do not have children, we saw an opportunity to support the Arboretum through our estate. We felt like we could make a significant difference to the Arboretum,” Maggie says. “We care about the mission, the science, and the necessity for our planet to have healthy, thriving trees. By giving through our estate, we can be a part of the impact the Arboretum is making.”
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To ensure their support continues beyond their lifetimes, the McCoys named the Arboretum as a beneficiary of both their trust and their IRA. “I realized I could make the biggest impact without the tax implications through an IRA beneficiary designation,” Maggie says. “IRAs can be a significant tax burden when left to people. But giving to a qualified charitable organization instead can make an impact without the tax consequences.”
Maggie encourages others to consider the legacy they could leave to support the Arboretum’s future. “No gift is too small—every gift matters,” she concludes. “Together they accumulate and contribute to a pooling of resources, making an even bigger impact. Giving to this world-class organization feels like we can make a difference locally while we are contributing to meaningful insights to help the planet.”
