Legacy giving is about making a difference through a planned charitable gift.
Our Legacy supporters are diverse and come from all walks of life. Yet, they have one common interest – to ensure that quality, compassionate hospice care will be available now and for future generations.
When you make a legacy gift to Wings of Hope or the Wings Home, you may recognize significant charitable tax deductions and other benefits. More importantly, you will know you are helping to bring dignity and comfort to individuals and families when compassionate care is needed most.
Easy Ways to Leave a Legacy
There are many ways to make a Legacy gift. Here are a few simple options that can make a significant difference.
- Becoming a member of the Full Circle Legacy Giving Group
- Stocks, bonds and mutual funds
- Real estate
- Life insurance -A simple change in beneficiary can direct your life insurance policy to Wings of Hope Hospice or Wings Home.
- Retirement Accounts (IRA, 401k, 403b, Simple IRA, etc)
- Wings of Hope/Wings Home can be designated as a primary or secondary beneficiary of all or part of your retirement account (IRA, 401(k), or 403(b) account). The forms are easy to change and the gifts are completely exempt from inheritance or income taxes, and they avoid probate.
- The IRA Charitable Rollover, as of 2016, has been made permanent. If you are 70 1/2 years or older and want to make a gift without federal tax liability this is a great way to give. Your gift is tax free up to $100,000 per year.
- “In Trust” Accounts: Any bank account or stock account in your name can be set up “In trust for Wings of Hope or Wings Home.” You retain exclusive control of the account during your lifetime. Upon your death, the account passes to the agency without probate or tax.
- Bequests: Through a bequest, you can make a provision for Wings of Hope/Wings Home in your Will or Living Trust for a specific dollar amount, specific asset or a percentage of your estate.
- Gifts that generate income for life: You may choose to create a charitable gift annuity and receive fixed payments for life in return for your contribution.
Wings of Hope and Wings Home are tax exempt organizations and are not subject to capital gains, income, or corporate tax. This means gifting taxable resources to Wings of Hope and Wings Home benefits you and our missions!
Certain gifts have tax implications that can help you protect more of your estate for your family and give more to Wings of Hope/Wings Home. For example, a life insurance benefit is generally not taxable, whereas most retirement account distributions are.
We are happy to meet with you to talk through specific options that you might like to consider. There are no obligations on your end; just the opportunity to learn more about maximizing your legacy.
The material presented is not offered as legal or tax advice. We leave the technical expertise in planned giving to the professionals such as our local community foundation and industry professionals such as attorneys, financial advisors and tax advisors. We urge you to seek the advice of your tax advisor, attorney and/or financial planner to make certain a contemplated gift fits well into your overall circumstances and planning.
For more information please contact Betty Jo Ferry, Director of Development at 269-686-8659.
Legal name: Wings of Hope Hospice & Palliative Care, Inc.
Tax ID number 38-2453558
Legal name: Wings Home, Inc.
Tax ID number 26-3779716