Legacy Giving

Remembering WMSS, Inc. in your Will or Living Trust is a simple way for you to leave a legacy of care for future generations of seniors.  There are different ways for you to include WMSS, Inc. in your Will or Living Trust.

• Make a donation of a specific amount or asset:

“I give to WMSS, Inc., a Point Reyes Station not-for-profit corporation that is recognized as exempt from tax under Section 501 (c)(3) of the Internal Revenue Code, with its principal office located at 11435 State Route One, P.O. Box 791, Point Reyes Station, CA 94956, the sum of $___ to be used for its general purposes.”

• Leave a percentage of your estate:

“I give to WMSS, Inc., a Point Reyes Station not-for-profit corporation that is recognized as exempt from tax under Section 501 (c)(3) of the Internal Revenue Code, with its principal office located at 11435 State Route One, P.O. Box 791, Point Reyes Station, CA 94956, ___ percent of the total value of my estate to be used for its general purposes.”

• Take care of others first, and leave the remainder, or residual, of your estate to WMSS:

“I give to WMSS, Inc., a Point Reyes Station not-for-profit corporation that is recognized as exempt from tax under Section 501 (c)(3) of the Internal Revenue Code, with its principal office located at 11435 State Route One, P.O. Box 791, Point Reyes Station, CA 94956, [all or ___ percent)] of my residuary estate to be used for its general purposes.”

• Leave a contingent gift that only takes effect if one of your beneficiaries predeceases you:

“In the event of the death of any of the beneficiaries, I give to WMSS, Inc., a Point Reyes Station not-for-profit corporation that is recognized as exempt from tax under Section 501 (c)(3) of the Internal Revenue Code, with its principal office located at 11435 State Route One, P.O. Box 791, Point Reyes Station, CA 94956, (specific, percentage, or residual language as above).”

The disposition of your retirement accounts, life insurance policies, brokerage accounts, savings and checking accounts is determined by beneficiary designations, not by a Will or a Living Trust, after you pass away.

Naming WMSS as a beneficiary of one or more of these assets is an easy way to leave a meaningful gift to WMSS.  Here’s how: 

1. 1. Contact your retirement plan administrator, insurance company, bank or financial institution for a change-of-beneficiary form.
   2. Decide what percentage (1 to 100) you would like WMSS to receive.
   3. Name WMSS as a primary or secondary beneficiary and indicate the percentage you would like WMSS to receive.
   4. Return the completed form to your plan administrator, insurance company, bank or financial institution.
   5. You’ll need this information to complete a beneficiary designation form:   

WMSS’s legal name and address: West Marin Senior Service, 11435 State Route One, P.O. Box 791, Point Reyes Station, CA 94956      

WMSS’s tax identification number: 51-0192320

If you are at least age 70½, you can transfer up to $100,000 directly from your Individual Retirement Account (IRA) to WMSS without being taxed.  Your gift will also count towards your minimum required distribution.

To qualify, you must meet the following requirements:

• • You must be 70 ½ or older
  • The transfer must go directly from your traditional or Roth IRA to WMSS. 401(k), 403(b) and SEPs are not eligible.
  • Your gift cannot exceed $100,000 per year
  • If you decide to contribute from your IRA to WMSS, share WMSS’s legal name, address and tax identification number, as follows, with your IRA administrator:
    • West Marin Senior Service, 11435 State Route One, P.O. Box 791, Point Reyes Station, CA 94956
    • Tax identification number: 51-0192320

Instruct your retirement plan administrator to make a charitable IRA rollover from your account directly to WMSS.  

Please let us know about your gift so we know who to acknowledge.

A charitable remainder trust (CRT) is an arrangement that will provide you or someone you designate income AND a gift to WMSS.

Here’s how it works: A CRT involves the irrevocable transfer of cash, securities, or other property to a trust, managed by a trustee of your choice.  You or others receive income from the trust for life or for a set number of years.  After the passing of the income recipient(s), or the set number of years ends, WMSS receives the assets remaining in the trust.

You’ll be eligible for an income tax charitable deduction for the year in which you establish a CRT. The deduction is based on the projected value of the ultimate gift to WMSS. 

There are two basic types of charitable remainder trusts: 

• • A charitable remainder unitrust provides a fluctuating annual payment based on a percentage of the trust’s assets as revalued each year. If the assets grow, the beneficiaries will receive a larger annual payment.

• • A charitable remainder annuity trust pays a fixed dollar amount each year, regardless of how the trust investments perform. This arrangement ensures stable income to the designated income beneficiary.

The board and staff of WMSS recognize that remembering WMSS in your estate plan is a significant decision.  We are grateful for your thoughtful planning which symbolizes your commitment to quality care for seniors.