Planned Giving
Through effective gift planning, you can balance personal financial goals with your interest in supporting Chicago Public Radio, WBEZ and realize significant tax benefits. All Chicago Public Radio members who document their intent to support the station through a planned gift become members in The Sondra Gair Society, named for WBEZ’s longtime midday host. Various types of planned gifts are possible, ranging from a simple bequest to retirement plan gifts. Some of these gifts may be made during your lifetime or at the time of death. Note the name of our institution for legal purposes is The WBEZ Alliance, Inc. For more information about estate planning, please contact your financial or legal advisors. If you wish to learn how your estate can help ensure Chicago Public Radio’s future, please contact Jeff Dunlap at 312-948-4686.
Bequests
The easiest and most common method of charitable gift planning is to make a bequest through your will. A will is the legal expression of your wishes for the disposition of your property at death. Beneficiaries (the heirs of the bequest) are the individuals and organizations that are important to you. You may wish to donate your entire estate, a portion of your estate, a fixed dollar amount, or a percentage of your assets to Chicago Public Radio, WBEZ.
If you already have a will, you can add a new gift, change a provision, or delete a gift by making an amendment to your existing will, called a codicil. Please note that making a codicil requires consulting with your attorney who will review your entire estate plan to ensure that the codicil enables you to achieve your goals. It is important that you and your attorney feel confident that your overall estate plan is best for your needs and those of your family.
Types of Bequests:
Unrestricted: Allows Chicago Public Radio, WBEZ to direct your gift where it is needed the most.
Restricted: Permits Chicago Public Radio, WBEZ to use your gift in the manner you designate, such as a specific area of interest (news, talk programming, equipment, etc.).
Specific Bequest: Gives a specific asset to Chicago Public Radio, WBEZ, such as cash or securities.
Residuary Bequest: Gives all or a percentage of what remains in your estate to Chicago Public Radio, WBEZ after all other specific bequests have been satisfied and all debts and expenses have been paid.
Contingent Bequest: Gives all or a portion of your estate to Chicago Public Radio, WBEZ when a named individual beneficiary dies before you. For example, “I give $10,000 to my cousin Mary, but if she does not survive me, the bequest should be given to The WBEZ Alliance, Inc.”
Retirement Assets
You may choose to make The WBEZ Alliance, Inc. the full or partial beneficiary of your retirement plan. We recommend getting the advice of your plan administrator and your attorney.
Charitable Remainder Trusts
There are several types of Charitable Remainder Trusts (CRTs), and you should contact your personal financial advisor or attorney to design one that suits your needs. CRTs provide you with immediate tax benefits and pay either a fixed income or variable income to you or whomever you designate for the rest of your life. This type of gift may be used effectively to plan for retirement, care for the elderly, or to provide funds for educational expenses for children or grandchildren. The most common types are Unitrusts and Annuity Trusts.
Types of Charitable Remainder Trusts:
Unitrusts: Pays you a variable rate income based on a percentage of the trust's fair market value each year. The trust may be invested for growth or for income. Low-income or non-income-producing assets, such as stock, can be used to fund the trust.
Annuity Trusts: Pays you a fixed dollar amount annually. You receive a substantial federal income tax deduction, and you (or whomever you designate) receive tax-exempt income. Your financial advisor or attorney can help you implement a trust.
Charitable Lead Trusts
As with Charitable Remainder Trusts, there are several types of Charitable Lead Trusts, and you should contact your personal financial advisor or attorney to design one that best suits your needs. A lead trust holds your gift of appreciating assets, pays income to Chicago Public Radio, WBEZ for a period of years, and then returns the remaining principal to you (a grantor lead trust) or your children or other heirs (a non-grantor lead trust).
A lead trust can provide significant estate and financial planning benefits.
For more information about estate planning, please contact your financial or legal advisors. If you wish to learn how your estate can help ensure Chicago Public Radio’s future, please contact Jeff Dunlap at 312-948-4686.
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