Plan with your advisors – your attorney, financial advisor, your CPA – to help plan for the future of your family, your closest friends, your retirement, your personal security while helping secure the future of WNED.
Each of these planned gifts rewards you and your family with tax savings, sometimes increased income, and the potential for using capital gains to help you and your favorite charities.
Here are just a few examples of how can join the WNED Foundation and support Public Broadcasting in your community for years to come:
Most enduring gifts are written into a will. Your will can name your charitable beneficiary or beneficiaries, just as it does family members and friends, specifically. The “legal name” to use for a legacy gift to WNED:
WNED Foundation, Inc.
P.O. Box 1263
Buffalo, NY 14240
Your gift by will may be written as a specific dollar amount, a percentage, a commitment when certain contingencies are met, or as the “residual” of your estate, that is as a portion of your wealth after expenses are met.
The gift may be fulfilled in cash, by transferring securities, through the disposition of real estate or real property, or by naming WNED as the beneficiary of retirement account balances – such as IRAs or 401(k) plans, for example. These often are the most “cost-effective” assets to leave as a gift.
A charitable gift may be written when you create a will or when you add to your will. A “codicil” can be added to an existing will to benefit charity by bequest.
Writing a gift by will not only perpetuates your membership giving to WNED, it may save taxes for your inheritors. No estate tax is charged to anyone when a charitable gift is legally left by bequest. You continue to control your wealth throughout your lifetime. You have access to it and to the income it earns. Your attorney will work with you in formalizing such a gift.
Charitable trusts can help fulfill a number of personal planning goals:
- Increasing income for retirement
- Securing lifelong income for a loved one
- Bypassing capital gains tax on invested wealth
- Reducing estate tax and conserving wealth for heirs.
Charitable trusts can play a significant role in long-term planning, especially when investments appreciate, and more income - without capital gains tax - is a goal. Life income trusts are important retirement planning tools. They often boost cash flow, reward charitable intent with an income tax deduction, and help manage estate taxes as well. Ultimately, the trust makes an enduring gift to WNED.
Another form of charitable trust – called “the lead trust” – conserves wealth for inheritors while making gifts to charity over a period of time.
Retained life estate is another “entrustment.” This gift plan promises your property to charity in the future but retains for you the right to live there. This gift plan creates an income tax deduction, the equivalent of an increase in income to you.
Charitable trust planning partners you and your attorney, trust officer, sometimes your broker or investment advisor, as you look ahead. Professionals at WNED will work with you as well.
Naming WNED as a beneficiary of an insurance policy, or a retirement account, is an easily executed and cost-effective way to make a lasting, legacy gift. A conversation with your insurance agent, financial advisor, or fund manager, will tell you how to make the charitable “gift.” It is easy and free of cost.
Whatever method you and your financial advisors feel is most advantageous to both you and your family, the WNED Foundation will work with you to ensure it supports the programming you hold so close to your heart.
For additional information, please contact Kathryn Vedder at 716.845.7031 or KVedder@wned.org.