Planned Giving Methods
Using funds from a retirement account to made bequests is often a good strategy. If there is a balance in your retirement account at your death, not only is there a potential income tax burden, but there may be estate taxes as well. Estimates are that up to as much fas 70%-75% of retirement assets can be lost to taxes under certain circumstances. Therefore, it is imperative that careful considered planning regarding retirement funds needs to be done.
There are several types of trusts that can be set up to help you take advantage of tax benefits: charitable remainder unitrusts, charitable remainder annuity trusts and charitable lead trusts.
Charitable gift annuities can provide generous support to Western and generate a lifetime payment to you (and a beneficiary, if desired), as well as providing tax benefits now.
Charitable gift annuities are the gifts that keep on giving. Rates on charitable gift annuities are based on age and whether the contract is immediate or deferred.
The IRS allows you one of its most significant tax breaks for gifts of appreciated securities. You receive gift credit and an immediate income tax deduction for the fair market value of the securities on the date of transfer, no matter what you originally paid for them. You pay no capital gains tax on the securities you donate.
For more information about gifts of appreciated assets, please contact us so that we can respond to your specific needs.
Donating your life insurance could be a wonderful way to fulfill your desire to support our work. By making the WOU Foundation the beneficiary of an existing policy, you make good use of your resources and expand your ability to make a significant gift.
Using real estate, such as your house, farm or commercial property, to fund a gift allows you to preserve your cash assets, receive significant tax and income advantages, and make a larger charitable gift than anticipated.
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.
WOU Foundation 503-838-8281 | or e-mail: firstname.lastname@example.org