As a valued supporter of Westmoreland Cultural Trust (WCT), you have the unique opportunity to create a living, personal legacy that aligns with your most cherished values. Legacy, or planned gifts, are a flexible way to provide for the places you love just as you provide for your loved ones. You have the power to support your wishes in the way that best suits you, and WCT can help you develop the best plan. WCT has many options when considering legacy gifts:
| YOUR GIFT | YOUR GOAL | HOW TO MAKE GIFT | BENEFITS |
| Gift of Cash | Make a gift from liquid assets | Make a check or credit card gift to WCT that may be made in full or in installments (up to five years) | Immediate income tax deduction and possible estate tax savings |
| Outright Gift of Securities | Avoid capital gains tax | Contribute long-term appreciated stock or other securities to WCT | Immediate income tax deduction and avoid capital gains tax |
| Grant from Donor Advised Fund or Foundation | Make a gift from your charitable giving fund | Contact your community foundation or financial institution to make a grant to WCT | Provide ongoing support to WCT from funds designated for charitable purposes |
| YOUR GIFT | YOUR GOAL | HOW TO MAKE GIFT | BENEFITS |
| Bequest from Will or Revocable Trust | Make a revocable gift during your lifetime | Name WCT as a beneficiary | Donation is exempt from federal estate tax |
| Gift of Individual Retirement Account | Avoid the twofold taxation on IRA's or other employee benefit plans | Name WCT as a beneficiary or direct lifetime gifts directly from the IRA to WCT | Allows you to pass other assets to your heirs, minimizing their future income tax liability |
| Gift of Life Insurance | Make a large gift with little cost to you | Give a life insurance policy you no longer need and/or name WCT as the beneficiary | Current income tax deduction and possible future deductions through gifts to pay policy premiums |
| Charitable Remainder Trust | Secure a fixed and often increased income | Create a charitable remainder trust that pays you a set amount annually and the remainder passes to WCT | Immediate income tax deduction and fixed income for life, often at a higher rate of return |
| Charitable Lead Trust | Reduce gift and estate taxes on assets you pass to children and grandchildren | Create a charitable lead trust that pays fixed or variable income for WCT to use for a specific term of years and the principle is retained for heirs | Reduces your taxable estate, and your family keeps the assets, often with reduced estate taxes |
| Gift of Real Estate | Avoid capital gains tax on the sale of a home or other real estate | Donate property or sell it at a bargain rate to WCT | Immediate income tax deduction and reduction or elimination or capital gains tax |
| Retained Life Estate | Give your personal residence now but continue to live there | Designate ownership of your home to WCT but retain occupancy | Valuable charitable income tax deduction and lifetime use of residence |
This information is intended as a giving guide. Prospective donors should consult with legal counsel and/or financial advisors.