For more information or advice, you can also visit our partner, Charitable Gift Planners of West Virginia.
Once investors have made provisions for family in their wills, they may wish to leave a specific amount, a percentage of the estate, or the residuum of the estate to United Way. If you wish to make a bequest to United Way, please use the following language:
“I give and bequeath to the Tygart Valley United Way, Fairmont, West Virginia, the sum of __________ dollars or ________ % of my estate.”
Life Insurance/Retirement Plans
Investors may choose to make United Way the designated beneficiary of life insurance or retirement plan proceeds. Life insurance polices with built-up cash value can make convenient tax-deductible gifts. Naming United Way a beneficiary of a retirement plan can result in significant tax savings.
Charitable Gift Annuities
Charitable Gift Annuities (CGA) are one of the most popular forms of planned giving and can offer tax advantages as well as life income for the donor or a named income beneficiary. A CGA is a contract between the investor and issuing charity, in which the investor makes an irrevocable gift to the charity, and in return the charity pays the investor a fixed income for life. Upon the death of the investor, the amount remaining (residuum) goes to the charity.