Legacy Gifts with United Way

Article: How to Create a Lasting Legacy by Supporting United Way

By June M. Wiyrick Flores with Ater Wynne LLP
United Way Planned Giving Committee member

Many people make annual or periodic charitable contributions to United Way but maybe are not aware of other options to make a difference through planned giving. Planned giving is a way to meet your financial goals, make larger gifts than you might have otherwise, provide long-term support for our community while also reducing estate, gift, and current income taxes. Contributions can include outright gifts of appreciated assets during the donor’s lifetime, lifetime gifts that return income or other financial benefits to the donor, or legacy gifts.

A testamentary bequest is another option that can be made through a bequest in a Will or revocable trust in which the donor specifies that United Way is a beneficiary of a specified asset. Alternatively, life insurance or retirement plans can be used to fund a testamentary bequest. Retirement plans are great assets to use for charitable bequests because there are no associated income tax issues with them if the beneficiary is a qualified charity like United Way.

When developing a planned gift, the donor should clearly specify the charity that they want to receive funds and should consider whether she or he wants to include restrictions on the use of the funds. A donor, or their adviser, should consult with United Way if restrictions will be requested to make sure the organization can implement the donor’s intent.

These are just a few of the many options available to a donor who wants to consider making a testamentary planned gift.

If you would like to learn more about how you can support United Way’s work in education, income and health through a Planned Gift, please contact Barbara Marmon, Director of Leadership Gifts and Loyal Contributors or call her at (503) 226-9344.