Planning Ahead
By planning ahead for the future, you can provide for your family and also help support a legacy for Wesleyan Senior Living. A planned gift enables you to have a significant impact on future generations and may help you make a larger gift than you thought possible.
Planned giving with Wesleyan Senior Living offers you a chance to leave a proud legacy while helping to ensure that Wesleyan Senior Living will be around long into the future.
The most popular type of planned gift is a bequest, but there are many other options, such as charitable gift annuities, that can minimize or eliminate federal estate and gift taxes, and preserve or even enhance your financial well-being.
Planned Gifts can help you:
- Reduce your income taxes
- Avoid capital-gains tax
- Increase your spendable income
- Retain payments for life
- Achieve worry-free asset management
Gift by Will
Consider including a charitable bequest in your will. If you already have a Will or Trust but would now like to include WSL, you do not have to rewrite your current documents. You may simply make an amendment. Click here for sample language.
Qualified Retirement Plan Beneficiary Designation
Many contributors seek ways to provide for their family while still supporting their charitable interests. One suggestion is to look at your qualified retirement plan. Often, a portion of these assets will remain after our lifetimes. If you plan to pass those assets on to anyone but your spouse, they will be subject to significant taxation -- as much as 80 cents or more on the dollar! You might wish to consider a charitable organization such as Wesleyan Senior Living as the successor beneficiary to your spouse for those remaining assets – it’s a wonderful way to support your charitable goals while, at the same time, improving the tax implications of your estate.
Charitable Gift Annuity
Do you have assets in a low interest bearing CD or mutual fund? You might want to consider a charitable gift annuity. A charitable gift annuity is a simple contract between you and Wesleyan Senior Living Foundation. In exchange for your irrevocable gift of cash, securities, or other assets, Wesleyan Senior Living Foundation agrees to pay one or two annuitants a fixed sum each year for life, a portion of which is generally tax-free income. Current return rates for those 60 and over vary from 5% to 9.5%, depending on age. Two-life annuitant rates are slightly lower.
If you have named Wesleyan Senior Living as a beneficiary, or wish to explore options on how these and other planned gifts can have a positive impact on your own situation, please contact Kristen Jones at (440) 934-6161 or kjones@villageliving.org.
Those who make a planned gift of any kind are also welcomed as members of our prestigious Mary Lilly Society. Read more about this remarkable woman and our legacy society named in her honor.
