WellStar West Georgia Medical Center’s legacy of quality care was established generations ago by several forward-thinking residents who came together to address a community need. Building on their vision, friends of West Georgia Medical Center are helping to shape the future of health care in our community through planned gifts. Through a Heritage Circle donation, you can enjoy valuable tax benefits while helping to support the vital programs and services of West Georgia Medical Center.
A gift of Life Insurance can be one of the most convenient ways to support the charity of your choice. By naming a charity as owner and beneficiary of a paid-up life insurance policy, you can receive a charitable deduction for the policy’s cash surrender value.
Retirement Plans are often subject to high estate taxes and fully taxable income is paid to your heirs. Donating a qualified retirement plan, such as a 401(K), 403(b), IRA or Keogh, to charity generates tax savings while fulfilling important community needs. Simply name the desired charity as beneficiary of the plan. You control the asset during your lifetime, then it passes to charity free of income and estate taxes.
When updating your Will, simply ask your attorney to include a paragraph designating a specific amount or percentage of your estate to the charity(ies) of your choice. If you choose to provide a future gift for West Georgia Health Foundation, the following language may be used:
West Georgia Health Foundation Inc.
1514 Vernon Road, LaGrange, GA 30240
A Charitable Remainder Trust (CRT) funded with appreciated assets can help you avoid capital gains and generate an income tax deduction upon creation of the trust. A CRT pays the beneficiary(ies) a fixed or variable income payment over a set number of years, after which the remainder passes to the specified charity.
A Charitable Lead Trust (CLT) provides income to a charity for a fixed period of time, after which the assets that funded the trust are returned to the donor. This type of trust may offer significant tax benefits to you as the donor while providing current support for causes that are important to you and your family.
The first step in creating a charitable legacy is to discuss your objectives and concerns with your legal, tax and financial advisors. The information included here is intended to assist you in discussion with your advisors, who are your best source for determining the appropriate options for you and your family.
Please notify us of your Heritage Circle gift so we can recognize your dedication and generosity. Heritage Circle members are proudly displayed in the Philanthropy Center located in West Georgia Medical Center’’s main lobby atrium. You will also receive invitations to Heritage Circle recognition events and other occasions at WellStar West Georgia Medical Center.
WellStar West Georgia Medical Center does not offer legal, financial or tax advice. Please consult your advisors for the best options for your situation.