Create Your Legacy

Each year, many wonderful supporters of WISE & Healthy Aging tell us that they would like to do more for our mission, but they do not have the means to do so because they need their assets “for a rainy day.” But at the time of your passing, when those assets are no longer needed, they can become part of our “rainy day” fund and create your meaningful legacy at WISE & Healthy Aging.

Your gift through your will, retirement plan or life insurance policy helps to ensure our future. There are many ways to leave a lasting legacy through your estate plans. Best of all, the provision can be altered at any time as your circumstances change and will not impact your current lifestyle.

Gifts through Wills and Living Trusts

A will or living trust that includes as a charitable beneficiary is no different than any other will, except that it includes bequest language to benefit WISE & Healthy Aging. Your bequest provision can take many forms such as naming WISE & Healthy Aging for a specific dollar amount, a set percentage of the total value of your estate, or the remainder of your estate after you have provided for family.

Sample Bequest Language

We recommend you share the sample language found on our sample language page with the attorney who is drafting your will or living trust. You will find sample language:

  • Residual Bequest
  • Specific Bequest Language
  • Contingent Bequest Language
  • Retirement Plan Designations
  • Life Insurance Policy Designations

Retirement Plan Designations

For many individuals, qualified retirement plans such as Individual Retirement Accounts (IRAs), 401(k)s, 403(b)s, and Keoghs may represent a disproportionate percentage of their net worth. By naming Wise and Healthy Aging on the change of beneficiary form for your retirement plan, you can designate Wise and Healthy Aging to receive a portion of the funds left in the account at your passing.

Not only is this simpler than drafting a codicil to your will, it also has tax advantages. If your qualified plan assets pass to someone other than your spouse at your death, they may be subject to both income and estate taxes. For some individuals, this can result in more than 70% of the account’s value going to the government in taxes. When Wise and Healthy Aging is designated as the beneficiary, no income or estate taxes are due at all! Similar to a bequest, you can also direct how Wise and Healthy Aging uses the proceeds from your retirement plan. For detailed information, please contact us.

During Your Lifetime – Under Age 70½:

We are frequently asked if it makes sense to take a distribution from a qualified retirement plan and use it to make a charitable gift during your lifetime. For those individuals under age 70½, there is little benefit in doing so. Your distribution is subject to income tax, which may then be offset by your income tax charitable deduction. However, other assets, such as appreciated stock or even existing cash, will likely produce a more tax-advantaged result.

           During Your Lifetime-Age 70½+:

           The Pension Protection Act of 2006 allows those individuals age 70½+ to transfer up to $100,000 per year directly from an IRA to 501(c)(3) charities like WISE & Healthy Aging. This provision is especially attractive if you have exceeded the 50% limitation on charitable deductions for cash gifts or are subject to the Pease Amendment phase outs of income tax deductions. It expires at the end of 2013, but each year since 2006 has been renewed by Congress.

Life Insurance Designations

           As you go through life, your insurance needs are constantly changing. Certain policies, such as those you may have purchased to ensure enough money for your children’s education or to pay off the mortgage in case of an unexpected death, are often no longer necessary. You may find that you can use the remaining value in these policies for charitable gifts in support of WISE & Healthy Aging.

Beneficiary Designation

If you no longer need the entire death benefit of an existing insurance policy, consider naming Wise and Healthy Aging as the beneficiary of all or part of the proceeds. To do so, contact your insurance carrier and complete a change of beneficiary form naming WISE & Healthy Aging.

Outright Gifts of Life Insurance

           In some cases, if you own a fully-paid, existing life insurance policy that you no longer need, you may want to consider donating the policy to WISE & Healthy Aging. You benefit from an income tax charitable deduction for approximately the cash surrender value of the policy. We generally liquidate donated policies immediately and use the proceeds as you designate.

Note: Naming opportunities and endowments have various gift minimums which may change over time. If you wish to use a bequest to fund a named gift or endowment, please contact us for additional language to ensure we can use your restricted gift to carry out your legacy.

Information Your Advisors May Ask You to Provide

Tax Identification Number: 95-2788014

Legal Name: WISE & Healthy Aging   

State of Business: California

For More Information

Contact Us

If you are interested in learning more about a WISE & Healthy Aging planned gift, please contact us we would be happy to provide you with additional information and options.

Those considering a planned gift should consult their own legal and tax advisors. We would be happy to speak with your advisors as well.

WISE & Healthy Aging Tax Identification Number: 95-2788014