Essential Functions
The most common type of estate gift is to provide a bequest, willing cash, personal property, or a percentage of remaining assets to Our Lady of the Wayside. Your estate taxes could be reduced significantly through this action.
You might want to consider designating Our Lady of the Wayside as beneficiary or owner of a life insurance policy, the latter subject to benefit from current income tax advantages. Similarly, you could designate the agency as a beneficiary or owner of a profit-sharing plan, IRA, or other retirement plan.
Two objectives can be accomplished by donating through a charitable gift annuity: (1) contract with Our Lady of the Wayside for a fixed payment for yourself or another individual and (2) make a gift, using charitable gift annuity rates.
Likewise, major estate planning objectives can be achieved by consulting with your attorney to tailor a Unitrust or Charitable Remainder Net Income Unitrust to fit your circumstances. Using a Traditional Unitrust, you will receive a percentage of the value of the trust assets annually for a term of years and the trust's principal can be invaded to make the payment. This type of trust allows you to increase your income from assets with a low current yield. The Charitable Remainder Net Income Unitrust (CRUT) pays a stated percentage or net income earned on the trust, whichever is less, and the principal may not be invaded. Again, the CRUT is commonly used by donors who want to contribute non-income-producing property to the trust and maximize the benefits to Our Lady of the Wayside.
Please contact George Worden to discuss in confidence your planned giving questions and legacy goals.
Phone: (440) 934-6054
Fax: (440) 934-7014
