Legacy Gifts
"Did you know that as many as 70% of Americans will die without creating a will? This leaves the courts in control of their estate with all their property distributed according to inflexible state law rather than individual wishes."
"Some years ago I decided to include the Guild for the Blind in my will. I am grateful to know that when I pass - my contribution will help to ensure the superior work of the Guild for the Blind will continue" Read Ruth's story
Many donors want to ensure their commitment to the Guild for the Blind carries on. A legacy gift to the Guild will ensure that the programs you support today will continue to be available for people with vision loss in the future.
Legacy Society
The Legacy Society is our way of recognizing and honoring donors who have included the Guild in their estate plans. Their actions make the Guild's legacy their legacy—our commitment to help people with vision loss realize their dreams.
Membership in The Legacy Society is open to those who have made provision for future support of the Guild in their estate plan or through a life income or other deferred gift agreement. There are no dues or other obligations. From time to time we will publicly recognize Society members who have expressly given us permission to list their names. If you would like to join the Legacy Society, please fill out a membership form or call Cheryl Megurdichian, Director of Development, at 312-236-8569.
How do I include the Guild in my will?
Bequests have been an important source of support for the Guild for the Blind throughout its 60-year history. Bequests are the easiest way to make a planned gift and provide a legacy of your lifetime commitment.
To determine the type of bequest you wish to make you should work with your attorney or financial planner. Standard language for a bequest is:
"I devise, will and bequeath to the GUILD FOR THE BLIND, an Illinois not-for-profit organization, the sum of $ (or equivalent, i.e., number of shares of XYZ Corporation, percentage of, or residual of my estate) to be used by said corporation for its general purposes."
Other Planned Giving Options
Retirement Assets
Distributions from certain kinds of retirement assets — such as individual retirement accounts (IRAs), tax-sheltered annuities, and 401(k) and 403(b) plans — are subject to income tax and may be subject to generation-skipping taxes and estate taxes. However, gifts of these assets will not be taxed if they are paid directly to a charity as beneficiary. You can designate all or a certain percentage of your retirement assets to go to the Guild for the Blind. It is important that you seek professional advice to determine how your retirement asset distributions will be affected by naming the Guild as a beneficiary.
(Note: there may be penalties for early withdrawal of your IRA assets).
Life Insurance
You can provide for the Guild through an existing or new life insurance policy. For an existing policy, you and choose to name the Guild as a beneficiary. You may also choose to transfer the actual ownership of the policy to the Guild. Another option is to purchase a new policy for the Guild benefit. This will entitle you to an income tax deduction and all of your future premium payments will be tax deductible.
Charitable Remainder Trust
A charitable remainder trust allows you and/or other designated beneficiaries to receive income from a trust for your lifetime(s), or for a period of years not to exceed 20. At the end of that time, the balance of the trust is transferred to a charity that you have selected. You can take a charitable deduction for a portion of the gift you make to the trust in the year the trust is formed. (In some cases, additional funds may be added in later years.) The two most common types of charitable remainder trusts are annuity trusts and unitrusts, which differ in how the income you receive from the trust is calculated and distributed.
With all planned giving options, it is important for you to seek professional advice to determine the arrangements that will make the most sense for you.
