Planned Giving

Types of Planned Gifts:

Bequest Gifts-A Gift in your Will or Trust

You can choose to name the WLU Foundation as a beneficiary of all or a portion of your estate or trust. This type of gift enables the WLU Foundation to carry out our mission for years to come and also reduces your estate tax. If you or your attorney have questions about how to designate the WLU Foundation as a beneficiary of your estate, please call 304-336-5635.

Charitable Gift Annuities-A Gift that Gives You Lifetime Income

This giving vehicle will provide you some financial security by establishing a fixed income, which you will receive during your lifetime. A CGA will provide you with regular income while supporting the WLU Foundation’s mission. Additionally, you can receive a variety of tax benefits, including a federal income tax charitable deduction. If you are interested in establishing a CGA and would like to have an illustration drawn up for you, please call 304-336-5635.

Charitable Remainder Trust-A Significant Future Gift with Current Benefits

This giving vehicle allows you to convert a highly appreciated asset into lifetime income while reducing income taxes now and estate taxes at death. Plus, you pay no capital gains tax when the asset is sold. In addition to all of the above benefits, a CRT enables you to give a significant gift to support the WLU Foundation’s mission. Once the appreciated asset is transferred from your estate into an irrevocable trust, it is sold at full market value. The proceeds are reinvested in income producing assets, thus, providing you lifetime income. The remaining assets will transfer to the WLU Foundation at death.

Charitable Lead Trust-Provide for your Heirs while Giving to your Charity

This giving vehicle enables you to make gifts to the WLU Foundation while providing for your heirs and reducing gift and estate taxes. Annual payments to the WLU Foundation can be based on a fixed schedule or a fixed percentage of the value of the trust assets. Federal and estate tax deductions for the value of annual trust payments to the WLU Foundation may enable you to actually transfer a larger estate after tax to your heirs.

Life Insurance-A Lasting Legacy

There are several ways to gift Life Insurance. 

Policy Donations:

Policy donations can greatly reduce your taxable estate and also yield a current income tax deduction of the policy’s fair market value, which can be significant. The charity will receive the entire face amount of the policy upon death, while the cost to the donor is only a small fraction of that amount each year. Any premiums paid after the date of the gift are deductible as well. There is no limit in the size of the policy that may be donated and this gifting option does not compete with the donor’s current investment strategy.

Name WLU Foundation as Beneficiary:

Naming the WLU Foundation as the beneficiary of a life insurance policy reduces your estate by the amount of the death benefit. If the donor chooses to stop paying premiums, the charitable organization can choose to continue.

Gifting Policy Dividends:

Gifting policy dividends allows you to receive dividends paid to life insurance policies in cash and donate them to the WLU Foundation. The dividends donated are tax deductible.

Information I May Need for Planning