Planned Giving - Wheeling Health Right

Wheeling Health Right

Gift Planning

Gifts of all types and sizes are welcome and appreciated! In addition to cash and in-kind gifts, you can contribute to the mission and future of Wheeling Health Right by utilizing special gift planning vehicles. These giving tools can vary and are described below. Planned (Legacy) gifts can mutually benefit you and your family as well as Wheeling Health Right, so we hope you will consider one or more of the following opportunities.

Bequests

Charitable bequests are the most popular and easiest legacy gifts to make. You make a bequest through your will or revocable (living) trust. You will want to consult with an attorney to plan your will or make changes to it. Your bequest can be a specific dollar amount, a percentage of your estate, the balance or residue of your estate, or make a beneficiary designation of a specific asset(s).

We have sample wills language that you can use and provide to your attorney. Contact us and we will be happy to send it to you.

Retirement Assets

Through the simple completion and submission of a beneficiary designation form provided by your retirement plan administrator, you can make Wheeling Health Right a beneficiary of your IRA, 401(k), 403(b), or other retirement plan. Because these assets are taxed at rates that can seriously erode their value when passed on to non-spouse family members, these are excellent assets in which to make a planned gift, leaving other less-taxed and/or tax-free assets for family.

Life Insurance

A gift of life insurance is a wonderful asset to donate to Wheeling Health Right. You can either simply name us as a beneficiary of your policy, or if you have a policy you no longer want or need, you can donate the policy to us by naming Wheeling Health Right as the owner and beneficiary. You can also do this with a new policy. A life insurance policy donation can net you a charitable deduction for the value of the policy. A charitable deduction is also available for any cash contributed to Wheeling Health Right in future years to continue paying the premiums on a policy that wasn’t fully paid up at the time it was donated. You would simply make an annual donation to Wheeling Health Right in the amount of the annual premium, receive a tax-deduction for each donation, and Wheeling Health Right would continue making premium payments.

Appreciated Securities

Publicly traded appreciated securities that you have held for more than a year can make an excellent gift. You would transfer the desired shares to us, and we will sell them, allowing us to help our patients immediately. You would receive an income tax charitable deduction based on the fair market value of the securities while also avoiding capital gains tax if you sold the shares. Contact us for our transfer instructions.

Charitable Remainder Trusts

Charitable Remainder Unitrusts pay a percentage of the value of the trust to you and/or loved ones for life or for a term up to 20 years. The trust is revalued annually, so payments will fluctuate each year according to the new value. However, you can always make additional contributions to the trust, which can either increase payments, or cover losses in down years. You will receive a charitable income tax deduction for a portion of the value of the assets placed in the trust. After the unitrust terminates, the remainder will benefit Wheeling Health Right and any other charities you might name.

Charitable Remainder Annuity Trusts allow you to donate assets into the trust and produce a fix income stream for you and/or loved ones for life or for a term up to 20 years. The income level you and/or loved ones receive is based on a percentage of the initial value of the assets used to fund the trust. This is a percentage that you and your advisor will set to produce the income you desire while also protecting the assets so there will be a charitable benefit to the charity(ies) you plan to help. After the annuity trust terminates, the remainder will benefit Wheeling Health Right and any other charities you might name.

Real Estate

You can donate a primary residence, vacation home, land, or commercial property to Wheeling Health Right and enjoy benefits such as a charitable income tax deduction based on the appraised fair market value of the property, avoid capital gains tax, use it to fund other gift planning vehicles such as a trust, and support our mission. You may deed all or part of the property. Considerations must be made prior to making the gift such as determining the value through an appraisal, determination of marketability, evaluating environmental issues, and others.

A Retained Life Estate is a gift which allows you to donate your home to Wheeling Health Right while retaining the right to live in it for the rest of your life or until you no longer want to retain it. You will receive an income tax deduction for the remainder value of the home. You will continue to be responsible for all routine expenses such as maintenance, insurance, and taxes. You also have the option to rent all or part of the property to someone else or sell the property in cooperation us. When the life estate ends, we will either use the property or sell it to support our mission.

With any of these giving options you can make them as unrestricted donations or designate them for a specific purpose(s). You can also make any gift in honor or memory of a loved one(s).

Have you already included us in your estate plans?

If you have included us in your estate plans, we encourage you to let us know by completing our Declaration of Bequest Intention and returning it to us using our information below.

Declaration of Bequest Intention

Director of Development

Gary W. Mulhern

gmulhern@wheeelinghealthright.com
304-233-1135

Wheeling Health Right
61 29^th Street
Wheeling, WV 26003

The above information is provided for educational purposes only. Wheeling Health Right does not provide legal, tax, or financial advice. We strongly recommend you consult professional advisors on all legal, tax, or financial matters, including gift planning considerations. To ensure compliance with certain IRS requirements, we disclose to you that this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of avoiding tax-related penalties.

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Every Dollar Makes a Difference

Wheeling Health Right works to stretch each and every dollar so we can provide the care that matters most to those in need. At an average of $850 per patient, we are able to care for 120 patients for the entire year.

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Charitable gifts of all types and sizes are welcome and appreciated.

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