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You may name WISE as a beneficiary of your IRA or other qualified retirement benefits. Donors should consult with their tax advisor regarding the tax benefits of such gifts. Naming WISE as the beneficiary of a qualified retirement plan asset such as a 401(k), 403(b), IRA, Keogh or profit sharing pension plan will accomplish a charitable goal while realizing significant tax savings. It can be costly to pass such assets on to heirs because of heavy tax consequences. By naming WISE as a beneficiary of a retirement plan, the donor maintains complete control over the asset while living, and at the donor’s death the plan passes to support WISE free of estate and income taxes. Making a charitable gift from your retirement plan is easy and should not cost you any attorney fees. Simply request a change of beneficiary form from your plan administrator. When you have completed the form, please return it to your plan administrator and notify WISE. We can also assist you with the proper language for your beneficiary designation to WISE.

Do you no longer have family members dependent on you, and yet still have a life insurance policy? You may name WISE as the primary beneficiary or one of the primary beneficiaries of your life insurance policy. Donors should consult with their tax advisor regarding the tax benefits of such gifts. Naming WISE as the beneficiary of a life insurance will accomplish a charitable goal and utilize an asset you may no longer need. By naming WISE as a beneficiary of an insurance policy, the donor maintains complete control over the asset while living, and at the donor’s death the plan passes to support WISE free of estate taxes. Making a charitable gift from your insurance policy is easy and should not cost you any attorney fees. Simply request a change of beneficiary form from your life insurance company. When you have completed the form, please return it to your life insurance company and notify WISE. We can also assist you with the proper language for your beneficiary designation to WISE.

Giving to WISE by Will or Revocable or Living Trust does not affect your cash flow during your lifetime. Any asset can be included in a bequest, through a will or trust, to ensure that your estate supports a cause you believe in. Making a Bequest reduces estate taxes, eliminates capital gains taxes and benefits WISE. A gift to WISE in your will or revocable trust proclaims your confidence that we will continue to serve our mission and make a difference in the lives of future generations. A bequest is easy to arrange, will not alter your current lifestyle in any way, and can be easily modified to address your changing needs.

Residual Bequest Language

A residual bequest comes to us after your estate expenses and specific bequests are paid:

I give and devise to WISE, located in Lebanon, NH, all (or state a percentage) of the rest, residue and remainder of my estate, both real and personal, to be used for its general support.

Specific Bequest Language

Naming WISE as a beneficiary of a specific amount from your estate is easy:

I give and devise to WISE, located in Lebanon, NH, the sum of $___________ to be used for its general support.

Contingent Bequest Language

WISE can be named as a contingent beneficiary in your will or personal trust if one or more of your specific bequests cannot be fulfilled:

If (insert name) is not living at the time of my demise, I give and devise to WISE, located in Lebanon, NH, the sum of $ _______ (or all or a percentage of the residue of my estate) to be used for its general support.

Do you have an asset (or assets) over $500,000 that is (or are) highly appreciated from which you would like to draw an income and have the remainder at benefit WISE? If you sold the asset to generate the funds you need, you may have to pay significant capital gains. Consider a Charitable Remainder Trust.

In a charitable remainder trust, you contribute assets or real property to an irrevocable trust which you pay an attorney to set up and you and/or your spouse or children receive a specific dollar amount in the case of an annuity trust or a fixed percentage of the assets in the case of an unitrust at least annually for life or for a term of up to 20 years. At the end of that time, the remainder interest can go to WISE and other charities of your choice.

There can be the following benefits of a Charitable Remainder Annuity or Unitrust Trust:

• You or those you choose get a stream of income for life or up to 20 years.
• The remainder goes to a charity of your choice.
• You get a charitable deduction on your income taxes for the net present value of the remainder interest to charity. (If you name someone other than you or your spouse to receive an income interest, the value of the gift to them for gift tax purposes is reduced to the net present value of the charitable gift.) Donors should consult with their tax advisor regarding the specific tax benefits of such gifts.
• The value of the property contributed grows income tax free.
• The value of the charitable remainder trust is not subject to estate taxes.
• If you contribute appreciated property to the trust, the capital gains tax is attributed to you over the stream of income payments rather than all at once.
• The trust is not subject to probate at your death.
• You can be the trustee and manage the investments.

There are a few disadvantages to a Charitable Remainder Trust of which you should be aware:

• The gift is irrevocable.
• There is a cost to have an attorney draft a remainder trust.