United Way of Forsyth County is working to advance the common good by focusing on the building blocks for a good life — education, financial stability, health, and basic ideas. With your support, we can create a better life for everyone, not just today but well into the future. Consider including United Way of Forsyth County in your will or estate plan.
LET US KNOW
If you have included the United Way Foundation in your estate plans, please let us know. We want to thank you for your generosity and make sure the purpose of your gift is understood and will be fully implemented, Also, we’d like thank you by recognizing you as a member of the Legacy Society. The United Way of Forsyth County Foundation (UWFCF) is happy to help you explore options for designating a bequest to the UWFCF.
Those considering a planned gift should consult their own legal and tax advisors. Foundation staff will be happy to speak with advisors as well.
TALK WITH US
The United Way Foundation has experienced thoughtful professionals who can help you think through your options. Just call or email us: firstname.lastname@example.org Phone: 336-723-9370
WHAT IS THE UNITED WAY FOUNDATION’S LEGAL NAME AND TAX I.D. NUMBER The official name of the United Way Foundation is the United Way Foundation of Forsyth County. The United Way of Forsyth County Foundation’s federal tax I.D. number is 20-2649556.
It is easy to include United Way in your will or estate plans. Here are 6 of the most popular ways to do this. We would welcome the opportunity to send you additional information or meet with you to take the next steps.
NAME UNITED WAY AS A BENEFICIARY IN YOUR WILL : A bequest provision can be included in your will when you are creating it, or you can amend your existing will through the use of a codicil. This arrangement provides you with flexibility and control should your circumstances change. You can designate an exact amount or asset or a percentage of the assets in your will.
MAKE AN OUTRIGHT GIFT OF CASH OR APPRECIATED STOCK: This is an excellent technique for individuals in the highest tax bracket…or those who have sold a business or received a significant bonus and could benefit from an immediate tax deduction. For example, Mary and Bob Smith are both highly paid professionals and received large bonuses this year. Unfortunately, a significant portion of this year’s bonus will be eaten away by taxes. Mary and Bob also have a stock portfolio of highly appreciated stock. They decide to contribute stock they purchased many years ago for $50,000 that is now worth $200,000. Because this stock is being transferred to United Way, they will not have to pay capital gains tax. United Way will benefit and Mary and Bob will receive a significant income tax deduction.
NAME UNITED WAY AS THE BENEFICIARY OF A RETIREMENT PLAN: Perpetuating your gift through a retirement plan is simple, flexible and tax wise. Contact the administrator of your retirement plan to designate United Way as the beneficiary of your retirement plan. They can also let you know what restrictions might apply. The benefits of naming United Way as the beneficiary of a retirement account include: • Avoiding potential double taxation on retirement funds gift to heirs (estate tax and income tax). • Allowing you to continue to draw money out of your retirement account while you are living. • Providing you with the freedom to change your mind if your situation changes. • Giving you the satisfaction of knowing that your hard- earned retirement funds will continue to impact people’s lives in our community.
NAME UNITED WAY AS THE BENEFICIARY OF AN EXISTING OR NEW LIFE INSURANCE POLICY Many contributors are attracted to life insurance because it enables them to make a larger gift than they would otherwise have been able to make. Here’s how it works: you pay the premiums on a life insurance policy that will ultimately produce a sizable gift to United Way. If United Way is named as the owner and beneficiary, you will also receive a tax deduction for the annual premiums.