Planned Giving
Please consider including The Washington Center in your will or other estate plans. Your lasting legacy can be one of learning and personal growth for young people for years to come. Here are some suggested ways to do so.Bequests Through Your WillGiving The Washington Center a gift through your will is a simple yet profound act of generosity. A will is a legal document disposing of your property at the time of your death to the important people and organizations in your life. The gift made in your will is called a bequest.
Sixty percent of Americans die without a will, leaving it up to the courts to decide where their property will go. Only with a will do you remain in control so that your loved ones, friends, or charities receive what you want, not what a judge decides. Your gift will help ensure that young people of all backgrounds, especially those who come from limited means or are first-generation college students, can have the benefits of an internship in Washington, D.C. You can designate The Washington Center the beneficiary of:
- A percentage of your estate
- Your residual estate (the remainder after payment of other bequests)
- Specific assets you name
Deferred GiftsMaking a deferred gift is another way to support The Washington Center through your estate plan. Charitable Remainder Unitrusts and Charitable Lead Trusts are two types of deferred gifts.
Charitable Remainder Unitrust In a Charitable Remainder Unitrust, you place in trust an asset and a trustee you select (often a bank) pays you a specified income each year of your life. The income is a percentage of the fair market value of the property determined annually. Generally, the older you are when you create the Charitable Remainder Unitrust, the more income you are paid. At the end of your life, the residual of the trust goes to The Washington Center.
You will receive an immediate income tax charitable deduction, avoid capital gains taxes and your estate (depending on its value) may receive, at your death, a substantial reduction of probate costs and estate taxes. Funds remaining in the trust at your death go to The Washington Center to help students.
Charitable Lead TrustA Charitable Lead Trust is irrevocable for a term of years, with the income being paid to The Washington Center during that term. At the end of that term, the assets will revert to you or your heirs.
A Charitable Lead Trust removes assets from your estate now so that upon your death your estate may be taxed at a lower rate. A Charitable Lead Trust allows you to pass an asset to an heir without probate. The Washington Center puts the income from your trust to work during the term designated.
**The preceding information is not intended to serve as legal or investment advice by The Washington Center.
