You can help ensure a strong future for Wellstone Action Fund through your estate planning or special gifts of life insurance, retirement plans, or other assets. Planned giving allows you to support Wellstone Action Fund while meeting your personal financial needs and receiving substantial tax benefits.
Wellstone Action Fund offers the following planned giving options, and our development staff are happy to talk with you about setting up a gift. We strongly encourage you to seek advice from your financial advisor or attorney if you are considering planned gifts.
Bequests
A bequest is a gift from your estate made through your last will and testament. You can bequeath a specific dollar amount, a fixed percentage of your estate, a particular asset (such as a stock portfolio), or the remainder of your estate after all other obligations have been met. You can designate your bequest for general operating support or a specific program.
Life Insurance
Donating a life insurance policy-whether a new policy or one you no longer need-is a wonderful way to make a large gift with little cost to you. You can name Wellstone Action Fund as a beneficiary or co-beneficiary of an existing policy; purchase a new policy and name Wellstone Action Fund as the beneficiary (annual premiums are tax deductible); or transfer the ownership and beneficiary status of a fully paid-up life insurance policy to Wellstone Action Fund.
Retirement Plans
You can also name Wellstone Action Fund as a beneficiary or co-beneficiary of the remainder of your IRA, Keogh, tax-sheltered annuity, qualified pension, 401(k), or profit sharing plan after your lifetime. Retirement plans are some of the most highly taxed estate assets and can be subject to both estate tax and income tax if left to your heirs. When you name Wellstone Action Fund as the beneficiary, the retirement plan is removed from your estate, thus reducing your total estate taxes.
Charitable Trusts
Wellstone Action Fund can be named as the recipient of a Charitable Remainder Trust, a Charitable Remainder Unitrust, or a Charitable Lead Trust. You can receive an immediate income tax deduction and regular income, with remaining assets going to Wellstone Action Fund upon your passing, thereby reducing your taxable estate.
Other Planned Giving Options
Wellstone Action Fund staff are available to discuss other planned giving options that best meet your needs. For more information, please contact the Wellstone Action development team at 651-645-3939.