Donations to Fresh Meals On Wheels encouraged

When Meals On Wheels board member Ron Becker and his late wife Darla were going through the estate planning process, they wanted to provide for their family members, but also wanted to leave something to the charitable organizations they had supported over the years, including Fresh Meals On Wheels of Sheboygan County.

“We’ve been so abundantly blessed, and we wanted to share that,” Ron said.

It was important to the Beckers to have a say in where their money would go, and to be able to alter the plan if their desires or circumstances changed. They looked at the charities’ missions and how effectively they used their resources when choosing organizations to support.

“The Meals On Wheels mission is a valuable one, helping innumerable people as well as society by keeping people in their homes,” Ron said. “In our opinion, with Meals On Wheels, our money will be watched over and used very wisely.”

There are a number of ways to incorporate charitable donations in your estate plan. Stelter, an organization that advises non-profits on planned giving issues, suggests several options to provide for non-profits like Fresh Meals On Wheels while also saving money on your taxes.

Donate appreciated stock: With the stock market at or near all-time highs, give your appreciated stocks to a nonprofit like Meals On Wheels of Sheboygan County and eliminate capital gains tax.

Name Meals On Wheels as a beneficiary of retirement plan assets: These assets remain taxable when distributed to a loved one but are tax-free when given to a nonprofit.

Make a direct transfer from your IRA to Meals On Wheels (if age 70½ or older): Regardless of whether you itemize your taxes, this gift helps you fulfill your required minimum distribution and is not considered taxable income.

Gifts of real estate: Many real estate markets are enjoying gains. Appreciated real estate may result in a tax on the capital gains unless donated to a charity or transferred to a charitable trust. The Meals On Wheels board of directors reserves the right to decline a gift of real estate.

A financial, tax or legal advisor can assist you in developing a giving plan that meets your needs and desires. For more information on planned giving, visit freshmealsonwheels.planmygift.org.


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