Name WOU Foundation as a beneficiary of your tax-deferred retirement assets and reduce your income tax or estate tax burden.
To make WOU Foundation a beneficiary, simply contact the particular asset plan administrator and request that WOU Foundation be named or added as a beneficiary.
Asset plans with beneficiary designations may include your mutual fund, retirement account, charitable trust, or life insurance policy.
Good Tax News:
- If you designate that all or a part of your retirement plan goes to WOU, the amount of this gift is included in your taxable estate but is fully deductible as a charitable gift.
- Generally, the full amount of your gift made through a beneficiary designation can be received by WOU and used for charitable purposes with no income tax due. The same asset, if left in your estate and not given to charity, may be subject to both income and estate taxes.
- Non-retirement assets are the least susceptible to taxation and are often better assets to leave to family members.
This guide is not intended to provide specific advice about your estate plan or to recommend a specific course of action. We suggest you consult your professional advisers before taking any action, then contact WOU's planned giving office to learn more about these giving strategies.