Estate Planning and Other Special Gifts
You can leave a lasting impact on WCP’s work through a will, charitable trust or gift of insurance. The process is straightforward, your gift will benefit WCP for years to come, and there may be tax advantages for you. There are many ways to create a planned gift through real estate, bequests, charitable remainder trusts and other gifts that provide both you and WCP with income.
Talk to your personal financial advisor to develop a plan that works best for you. Contact the WCP Executive Director (Mike Nizankiewicz) for simple language that can be added to any will to ensure that WCP is included in your basic estate plans. Be sure to let us know that you have made these arrangements so we can recognize your generosity.
Gifts of Stocks and Securities
Do you have appreciated stocks or securities? Want to avoid paying capital gains tax while making a charitable contribution? Donating appreciated stocks or securities directly to WCP is an easy way to make a gift. You can receive a tax deduction and avoid capital gains taxes.
You will receive an acknowledgement from WCP when the transferred stocks are received indicating the mean stock value on the date the asset is transferred. Your financial advisor or accountant can provide you with information regarding the tax deductibility of this type of gift.
This method of giving is typically most appropriate with appreciated assets. If you have realized a loss on certain assets, sell those stocks or securities first. Always talk to your broker or financial advisor before making a gift of securities and find out what is best for you and your situation.
Planned Giving Options
- Bequests – No effect until death, the gift must be included in a will or testamentary trust. Can be expressed as a certain amount, specific assets(s), percentage or residue of an estate.
- Beneficial Designations of (part or all of) Retirement Plan Assets – accomplished by a beneficial designation or a qualified retirement plan and sent back to the company holding the plan. Gift often expressed by a percentage.Revocable, no effect until death.
- Gift of Ownership, or Beneficial Designation of (part or all) or (one or more) Life Insurance Policies – If given ownership of a life insurance policy to WCP,the donor may get a tax deduction.
- Gift of Real Property- Gift of a primary residence, vacation home or farm; older individual(s) can deed real estate to WCP and retain on the face of the deed their right to occupy the property for the rest of their life/lives; they are entitled to an income tax deduction for the charitable remainder value.This simplifies the estate, makes them a donor now.
- Charitable Gift Annuities – A life income plan, especially for older individuals.Those over 65 can generally generate a better return that a Certificate of Deposit.
- Charitable Remainder Trusts – Irrevocable when funded, trusts must follow statutory terms and be in the form of an annuity trust (which pays a fixed amount).Can pay income to the donor for life or for a term up to 20 years, such as for younger beneficiaries.
- Testamentary Disposition of All U.S. Government Savings Obligations – U.S. savings bonds are a good testamentary gift to WCP since the donor would otherwise pay income tax on the bonds.
- Gifts Other Than Cash – Use appreciated real estate or stock to give outright to WCP or to fund an income arrangement. The donor can enjoy significant tax and income advantages such as avoiding capital gains and an income tax deduction for the asset’s fair market value if long-term.
If you are interested in discussing any of these vehicles, please contact the Center office on 202.237.1854 or by emailing center@washpsa.org.