Planned Gifts - A Legacy of Caring
“Planned giving” generally refers to a gift commitment that you make today that will benefit Woods, or any other charity, in the years ahead.
Estate and Planned Giving Opportunities
There are many options for giving. . .
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Bequest - By including the Woods Services Foundation in your Will, you’ll be building a Legacy for Woods’ future without affecting your current assets or income.
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Life Insurance – You can make a contribution of life insurance either by naming Woods as the beneficiary of a life insurance policy or by naming Woods as the owner of a new or existing life insurance policy.
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Charitable Gift Annuity - You can make a payment to Woods that will generate a guaranteed lifetime annuity income for you or a loved one.
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Retirement Account - If you are planning an estate gift, you may want to consider naming Woods as the beneficiary of an IRA account. IRA distributions are taxable to your heirs but are both income tax and estate tax-free when given to a charity.
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Charitable Remainder Trust - You can establish an irrevocable trust that pays you or someone you designate for a period of time, and then gives the remainder to Woods.
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Charitable Lead Trust - A Lead trust provides annual income to Woods for a predetermined number of years. After that period, the trust principle is passed on to your children or other heirs, or can be returned to you.
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Wealth Replacement Trust - To ensure that your children or other heirs are not short-changed when you make a significant gift to a charity, you might want to consider a Wealth Replacement trust. The trust uses your gift tax savings to purchase a life insurance policy that replaces the dollars you gave to charity.
Planned gifts can offer many advantages to the donor -
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A number of planned giving options give you the ability to generate income for you or your loved ones.
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The IRS offers opportunities for taking tax deductions today for an irrevocable planned gift that you pledge for the future.
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Charitable gifts paid through your estate will generally reduce your estate taxes.
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You may be able to make a significantly larger charitable gift than you could consider giving as an outright gift of cash.
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When you make an estate pledge or gift commitment, you will be recognized as a lifetime member of the Woods’ Heritage Association.
This information is not intended as legal advice. For advice, consult an attorney or financial advisor.
For Information
If you would like examples, gift comparisons or additional information
about any type of planned gift, you may contact us at (215)750-4216 or
wsfoundation@woods.org.
