By Nicholas Kemetz, Estate Planning Attorney at Albrecht & Barney Law Corporation and Working Wardrobes Legacy Committee Member
One of the most meaningful ways to support a charity’s mission is through a charitable bequest in your Will or Trust. Planned giving allows you to create a lasting impact for causes you care about and help future generations long after you are gone. By including a gift to Working Wardrobes in your estate plans, you can help ensure continued access to the many programs, services, and support for the community that Working Wardrobes offers, without requiring any gift today.
A bequest can be as simple as designating a specific dollar amount, a percentage of your estate, or the remainder of your assets after loved ones have been provided for, or any combination of the above. Any amounts left to charitable organizations like Working Wardrobes in this way may provide you with a dollar for dollar reduction of your taxable estate, potentially reducing any estate taxes that would be owed upon your death. One of the best aspects of this kind of bequest is it can be fully customized to match your intent or updated in the future if circumstances change.
If you would like to learn more about including Working Wardrobes in your Will or Trust, we encourage you to speak with your estate planning attorney.