gifts of retirement plans

By leaving West Side Ecumenical Ministry (WSEM) as a beneficiary of your retirement account, you can leave a wonderful legacy that will help advance the self sufficiency of those served by WSEM. You can gift all or part of your retirement plan assets by making WSEM a beneficiary or contingent beneficiary of your retirement accounts. Your financial advisor can help you determine the right plan for you depending on your age, income needs and other financial objectives.

Benefits of Retirement Asset Gifts

• You can avoid both income tax AND estate tax levied on the residual left in your retirement account by leaving it to WSEM.
• You can continue to take withdrawals during your lifetime.
• You can change your beneficiary if your circumstances change.
• You can choose to leave retirement plan assets to WSEM through your will or revocable trust instead.
• You will have the satisfaction of knowing that your hard-earned retirement dollars will support the work of WSEM when you are gone.

Ask your financial advisor about how the Pension Protection Act of 2006 provides special opportunities for elder adults. This legislation gives donors aged 70.5 and older an opportunity to direct lifetime distributions from IRAS to WSEM without incurring income tax liability on the withdrawal. Distributions can total $100,000 per year, and must be made outright – they cannot fund a life income gift.

Recognition: The WSEM Legacy Society
WSEM recognizes and honors friends of the agency who inform us of their intention to invest in the future of Cleveland's children, youth and families through planned or deferred gift arrangements. Please notify us of your intentions by completing this WSEM LEGACY SOCIETY ESTATE INTENTION FORM.

Contact Us
The Vice President of Advancement is available to discuss ways you can make a retirement asset gift to benefit WSEM. For further information, please contact the Advancement Department at (216) 651-2037.