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As a person who has watched WGVU
for many years, you share our desire to ensure we will be strong
and vibrant in providing programs that educate, inform and entertain.
The regular gifts from our members provide financial support for
today’s needs. By remembering WGVU with an estate gift, you
will enable us to build a firm foundation for tomorrow.
Remembering WGVU through your planned
gift will help build a legacy that perpetuates our common interest
in quality programs for generations to come. Your gift will have
a significant impact on our ability to uplift and enrich the lives
of people like you. Please look through the following information,
or request one of our Remember WGVU brochures to find which of our
planned giving options will work best for you.
WGVU does not provide
advice on tax or legal matters. Because Michigan and federal laws
govern many types of planned giving, you should consult with your
attorney, financial planner or other professional tax and estate
advisor.
Giving to honor
or remember someone - or something -
important
to you
Your gift of support for WGVU’s legacy may
also include an enduring tribute to a family member, other loved
one, or a cause you believe in. There may be no better way to honor
someone than through a gift with lasting value.
WGVU can attribute program support, equipment
and capitol improvements to gifts made in memory of loved ones.
We will be glad to assist you in choosing an appropriate commemoration
for your gift in honor of someone or programs special to you.
Other options include giving a tribute gift to
memorialize a friend or an organization. Such gifts can be made
at any time and demonstrate your care and thoughtfulness for the
person or organization you are honoring.
Memorial and tribute gifts can be made through
cash, stocks, bonds, life insurance or other property. These gifts
establish a legacy in memory or honor of a loved one, while making
it possible for WGVU to serve others in our community.
The simplest way
to Remember WGVU
A will is the simplest way to distribute your
estate. By creating a will or having an attorney make a simple revision
to your will, you can provide for the needs of loved ones and choose
from a variety of ways to build a legacy for WGVU.
In preparing your will, you should think first about your family's
needs. Then you may make a bequest of a certain dollar amount,
a specific property, a percentage of your estate, or what is left
after you have taken care of your loved ones. You may also wish
to name charitable recipients in case one or more heirs do not survive
you.
If you already have a will, your attorney can add a simple amendment
(codicil) stating:
General Bequest:
"I give and devise to WGVU, A Michigan non-profit organization,
the sum of $________ (or specific described property)…"
Residue Bequest:
"I give _____ percent of the residue of my estate to WGVU,
a Michigan non-profit organization."
Gifts that pay
you income
A charitable remainder trust is a way
to make a gift that provides you with income for life (or any period
you specify up to 20 years). Your funds are held separately and
professionally invested for payment of a fixed or variable income
to you or someone else you name. When the trust ends (at the death
of the income recipient or at the end of the time period you specified),
whatever remains in the trust is distributed to WGVU to help sustain
quality programs in the future.
You receive an income tax deduction when the trust
is created. The size of the deduction depends on beneficiary age(s),
the payments you receive and other factors. This option is an excellent
way to avoid or defer tax on capital gains, to supplement your retirement
income, or to increase the income from low-yield assets.
A charitable remainder annuity trust
pays you a fixed income. You must set the income percentage (must
be at least 5 percent of the initial value of the trust, and will
be affected by size of the trust and type of assets) and receive
that amount annually for the period of time you have chosen.
A gift that pays
you a steady income
Gift annuities are an option to make
a gift now and receive lifetime income for yourself, your spouse,
or someone else you designate.
A charitable gift annuity is attractive
because it combines a gift with steady income, an excellent rate
of return, and tax benefits. You can create a WGVU gift annuity
where we agree to pay you, your spouse or anyone else a fixed amount
every year for life.
A deferred gift annuity lets you defer
income from an annuity until retirement. This option provides an
excellent way for younger people to help WGVU while preparing for
their retirement. The gift is made now and the donor begins receiving
regular income over a set number of years.
Charitable
Lead Trusts
Giving a temporary
gift
A charitable lead trust provides meaningful
support for WGVU over a period of years while ensuring that the
property will ultimately return to the donor or to loved ones. The
lead trust is one of the few ways to reduce or eliminate taxes that
otherwise would be due on assets left to children or grandchildren.
It’s a special kind of giving that allows you to “lend”
your assets to WGVU for a specific period of time, after which they
would come back to you or to other persons you name.
And, in certain cases, you may be entitled to
an income tax deduction for a portion of your trust. Check with
your tax advisor to see if you would be eligible.
Life
Insurance
Giving a large
gift at a small cost
A simple way to make a significant gift in the
future is to name WGVU as the beneficiary to receive all or a portion
of the proceeds of a life insurance policy no longer needed
for its original purpose. As life progresses, children become self-sufficient
and investments may provide enough security for your future.
Another way to make a gift of insurance is to
purchase a new policy, naming WGVU as beneficiary or co-beneficiary.
By so doing, you may ensure a gift “on the installment plan”
that may be much larger than its cost.
The gift of life insurance may entitle
you to a deduction from your estate taxes at your death and may
also quality for a deduction from your current income taxes. And
if you transfer ownership of the policy to WGVU, your annual premium
payments could be tax deductible.
Life
Estate and Securities
Giving your home
while continuing to live there
You may make a gift of a home, farm, or certain
other real estate while retaining the use of the property for as
long as you live by using the life estate arrangement.
With this plan, you deed your home, farm or other real estate to
WGVU. You continue to maintain the property, pay taxes and even
receive any income the property generates for as long as you continue
to live there. You receive an income tax deduction when you deed
the property over. The property value will not be included in your
estate, therefore reducing estate taxes.
Gifts of stocks, mutual funds or collectibles
earn you an income tax deduction equal to the fair market value
of the securities on the date of the gift. The transfer
of appreciated stock to this station can also enable you to avoid
capital gains taxes.
WGVU's Federal Tax I.D. Number
Your attorney may want WGVU's tax I.D. number. It is 38-1684280.
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