Charitable Estate Planning Options
There are many types of testamentary gifts that offer lifetime income and/or tax benefits to the donor before transferring to The Wartburg as a planned gift. Your generosity supports the ministry of healing and hope provided by The Wartburg Adult Care Community. The Wartburg Foundation works with donors and friends who want to turn their vision for support into a reality through a life plan that includes appropriate gift planning instruments.
Bequests
When naming The Wartburg Foundation in your will, you can give a specific amount or a percentage of your estate. Anything you wish may be bequeathed (cash, securities, real estate, art, antiques). By naming us as a beneficiary, you continue to control your assets during your lifetime and your gift is exempt from federal estate tax.
Charitable Gift Annuity
A charitable gift annuity can be funded with cash or securities. You receive a lifetime income and tax benefits and make a future gift to The Wartburg Foundation.
Life Insurance
Gifts of life insurance provide an easy way for you to support our ministry. You can name The Wartburg Foundation as owner and beneficiary of a new or an existing policy. The premiums you contribute are deductible charitable donations. You may also simply name The Wartburg Foundation as a beneficiary of an insurance policy.
Retirement Assets
Because these resources – IRAs and retirement funds - can be subject to estate and income taxes, they are often named as charitable gifts in estate plans. Distributions from a retirement plan (beginning at age 55) can also be used to fund an insurance policy naming The Wartburg Foundation as beneficiary.
Charitable Remainder Trust
You can use this instrument to make a gift to The Wartburg Foundation in the future and receive income and tax benefits in your lifetime. A charitable remainder trust is an arrangement in which an asset (cash, securities, real estate, etc.) is donated to a charity and the donor continues to use the asset and/or receive income from it while living. The beneficiary receives the income and the charity receives the principal after a specified period of time. The donor avoids a capital gains tax on the donated asset and also gets an income tax deduction for the fair market value of the remainder interest that the trust earned. Therefore, the trust pays you or your loved ones and provides a future gift to The Wartburg Foundation.
The Wartburg Foundation would be happy to discuss your individual circumstances and options with you free of charge, with absolute confidentiality and no obligation. Please contact Katherine D. Guenther at kguenther@thewartburg.org or 914-513-5179.
The Wartburg Foundation advises you to consult with your attorney and your tax adviser regarding your estate plans.
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