The Legacy Society
The Legacy Society is a group of generous and caring individuals who have included a gift for The Viscardi Center in their estate plans. This includes people who have bequests in their wills, as well as those who have set up a charitable remainder trust—a gift that provides them and their loved ones with income for life before being transferred to The Viscardi Center. It also includes those who have made The Viscardi Center the beneficiary of a life insurance policy or of an IRA or other retirement plan.
Why Make a Planned Gift to The Viscardi Center?
The Viscardi Center is working diligently to serve people all ages with all types of disabilities. As we look ahead, we predict an increased demand for these services, especially as more children with severe disabilities are entering school systems and the population of senior citizens is increasing. Planned gifts help secure the future of The Viscardi Center and allow the organization to meet challenges like these as they arise.
Benefits of Planned Giving
The most meaningful benefit of belonging to The Legacy Society for most people is the feeling of personal satisfaction they enjoy when they have taken steps to help assure future financial support for The Viscardi Center.
For many, the substantial tax benefits allowed by the IRS for such commitments are also important and allow our benefactors to give much more than would otherwise be possible.
How to Join The Legacy Society
Bequest in your will
There is no minimum amount required. All bequests are important to us regardless of size, and are gratefully received. To make a bequest commitment, simply contact The Viscardi Center for the standard legal wording, and then ask your attorney to revise your current will or create a codicil. Designating a portion of your estate to a charity may reduce the amount of taxes that your heirs will owe.
Charitable Remainder Trusts
You may also wish to consider establishing your own individual charitable trust that would benefit you and your family first, and then provide support to The Viscardi Center. Your own charitable remainder unitrust or annuity trust could provide you with a 5-7% payout, while also making it possible for you to be a more generous philanthropist without sacrificing personal and family goals.
If you are 70½ or older and are required to make withdrawals from your retirement plan, rolling over funds to The Viscardi Center can help offset the income tax incurred by the mandatory withdrawals. Another way to make good use of your retirement fund, is to make The Viscardi Center a beneficiary. Retirement accounts are exposed to estate taxes at a rate of 65% to 80%, making these types of assets ideal for planned gifts, which are not taxed.
Either an old policy you no longer need, or a new one taken out especially for this purpose, might make a great gift to The Viscardi Center. To make us the beneficiary of an existing policy, you simply need to complete a change of beneficiary form. To give the policy itself to us, ask for an assignment of ownership form from the insurance company and fill it out. A new policy can be assigned to The Viscardi Center after you make the first premium payment. In some cases, there can be significant income and estate tax advantages for making a gift in this way.
If you have already made a planned gift to The Viscardi Center, please notify us so that we may properly acknowledge your generosity and ensure that you have used the correct legal language.
If you are interested in learning more about making a planned gift to The Viscardi Center please call or e-mail:
Lauren M. Marzo
Chief Development Officer
The Viscardi Center
The information presented on or through this website is made available solely for general information purposes. It is NOT to be used as a substitute for specific legal or tax advice. Online readers should NOT act upon this information without seeking professional counsel. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results. Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.