LEAVING A LEGACY THROUGH PLANNED GIVING

Even if you are a person of modest means, you can have a lasting impact on the future of libraries by leaving a bequest or gift to the WLA Foundation.  You may contribute a gift for a specific purpose or you may give a bequest for the unrestricted use of the WLA. Gifts may be of any type of asset, such as real estate, cash, stocks, vehicles, jewelry, insurance policies, or retirement accounts.

Bequest Options
You have several options if you wish to include WLAF in your will, gifting any type of asset, such as real estate, cash, stocks, vehicles, or jewelry. These gifts are tax deductible for federal estate tax purposes.

You may also give a percentage of your estate. This option is useful since it may be difficult to determine the ultimate size of your estate. You can also give a residual bequest, wherein other terms of the will are satisfied before the gift to WLAF is made. This option can ensure that your loved ones are taken care of before charitable gifts are given.

Beneficiary gifts
You can easily provide a charitable contribution by naming WLAF as the beneficiary on your life insurance or retirement accounts. Because WLAF is exempt from paying federal income taxes, the full amount of the gift will be available for support of libraries.

Gifts of Other Assets
You may also benefit WLAF without a probate provision by simply naming the Foundation as a payment-on-death designee for certificates of deposit, a checking or savings account or securities.

Correct Legal Name
Wisconsin Library Association Foundation, Inc.

Sample Wording for Bequests
For unrestricted requests: “I give to the Wisconsin Library Association Foundation, Inc., Madison, Wisconsin, _______ to be used for the Foundation’s general purposes and programs.”

You may also name a specific WLAF fund or program, if desired. Contact the Wisconsin Library Association for more details.

This information is general in nature. There are many other charitable giving options related to your estate planning. WLAF is not engaged in rendering legal advice or tax advisory services. Advice from legal counsel knowledgeable about tax laws and estate planning should be sought before making any decisions about the matters described herein.