Remembering the Council in your will allows you to leave a lasting legacy for people in Wisconsin as they adjust to life with vision loss. The following is suggested language: I give, devise, and bequeath to Wisconsin Council of the Blind & Visually Impaired of Madison, WI, a not for profit 501(c)3 corporation, the sum of $________ (or percentage of estate, or description of the property) to be used to fulfill the mission of the Council.
Many people own insurance policies that are no longer needed for their original purpose. Paid up policies can be transferred to the Council, or new policies naming the Council as the owner and beneficiary, will benefit the Council and you.
A trust allows you to donate assets to the Council and receive benefits such as payments for life or a term of years, an immediate charitable deduction, and a reduction or elimination of various taxes.
A gift through your 401(k) or other qualified retirement plan can be made by designating the Council to receive all or a portion of the balance of your plan. This arrangement allows you to avoid the exposure to income and estate tax that you might face if you designate this to your heirs, and you can continue to take regular lifetime withdrawals.
Please consult your financial planner as you make these important decisions.