Make a lasting difference in the future of WMNR Fine Arts Radio
Each week over 50,000 people in Connecticut and New York depend on WMNR to bring classical music and entertainment into their homes, offices, and cars. Since 1982, WMNR has been a source of classical music and entertainment of uncompromising quality for hundreds of communities.
The WMNR Fine Arts Radio Legacy Circle helps to sustain this vital part of your daily life. Join the WMNR Fine Arts Radio Legacy Circle
Bequests : Identifying WMNR, Monroe CT in your will is perhaps the simplest form of planned giving. Whether you choose a specific monetary amount, or a residual portion of your estate, including WMNR in your will provides a legacy beyond your lifetime. The language in your will could be as simple as: "I give, devise, and bequeath to WMNR of Monroe, Connecticut, the sum of $xxx,xxx" (or otherwise describe the gift or specify a percentage of the estate).
Gifts of Life Insurance : Some of our listeners no longer need life insurance purchased years ago to provide for children or other family members. If that's your situation, consider donating the policy to WMNR. You may be able to claim a charitable deduction for the policy's approximate cash surrender value, and the proceeds are removed from your estate.
Appreciated Securities : Listeners who contribute appreciated securities held for more than one year (long-term) may receive a double income tax benefit: (1) A deduction for the asset's full fair market value instead of the lower cost basis; and (2) a complete avoidance of capital gains tax on the asset's appreciation.
Gifts of Retirement Plans : Believe it or not, you may be taxed on your IRA, other retirement plans, and some other assets more than once when you leave them to your heirs. Income in respect of a decedent (IRD) is income you were entitled to but did not receive during your lifetime. IRD is subject to both income, estate taxes, and sometimes generation-skipping taxes too. The most common source of IRD-and the one most likely to comprise a large part of your estate-is an IRA or other retirement plan. You can avoid the taxes on IRD-and make a significant charitable gift to WMNR at greatly reduced out-of-pocket cost-by using IRD assets to make charitable gifts and leaving other assets to family members and other non-charity beneficiaries. By creating a trust in your will, you can even use an IRA to provide life income for a survivor.
For more information email or call Kurt Anderson, General Manager at 203-268-9667.
This material is provided to WMNR supporters for informational purposes only and is not intended as financial planning or legal advice. As with all personal financial matters, please consult your financial planner or lawyer for comprehensive information.