Will Power!

Power to use the accumulated fruits of your lifetime to provide for your loved ones as you see fit, rather than as the government determines. Power to ease the transition of your passing for those who survive you. And power to leave behind a legacy supporting the values you believe are the most important.

Communities have only as much power as each one of us provides. Today, thousands of citizens continue to broaden the resources that support and secure the nonprofit sector of our growing community. 70% of Americans make gifts to charity each year, yet only 8% make gifts in their wills. Do you have a will? Don't be one of the 60% of American's who die without one, leaving their families to make difficult decisions at a stressful time.

If you currently have a will, you can easily add a codicil (an amendment) to include a bequest - a gift in your will - to Compass Health. If you don't have a will, this is the time to prepare one! You can change your will anytime while you live -- you retain control and can easily make revisions should your circumstances change.

When you include Compass Health in your will, you're using your will power to support an organization with over 100 years of service to the Snohomish County community. Your bequest will help build a solid funding base to support our work far into the future.

Besides strengthening your community and creating a personal legacy, charitable bequests also provide tax benefits to your estate. At your death, your estate is entitled to an estate-tax charitable deduction for the full value of your bequest. Because rates for the federal gift and estate tax go as high as 55%, this deduction can mean significant tax savings for your estate. For example, if you have a taxable estate of $900,000, a $100,000 charitable bequest can save $39,000 in taxes, so the “net cost” of your bequest is only $61,000. (Note: The 1997 tax act increases the amount of non-charitable gifts and bequests that are excluded from gift and estate tax. The increased exclusion will be phased in from the current $600,000 to $1,000,000 over the period 1998 to 2006.)

Types of Bequests
Your bequest may take any of several forms.

• A general bequest is for a certain dollar amount of property, usually cash.
• A specific bequest directs that Compass Health is to receive a specific piece of property:
• A residual bequest designates all or a portion of whatever remains after all debts, taxes, expenses, and other bequests have been paid.

In addition to the choice of bequest form, you may choose the purpose for which your bequest will be used. It could be totally unrestricted, allowing us to use it where the need is greatest. Or, it could be designated for a particular program or area of interest. Another possibility is to direct that your gift becomes part of our endowment fund. The principal of the fund is retained and invested in perpetuity, and only the income is expended for the benefit of the community.

It is important to review these materials with your professional advisor. Your will must be executed by an attorney to be valid.

WILL POWER -- it's yours when you write your will. Take care of your family and remember your favorite charities. Make a difference in the lives that follow.

Make a gift to the future. Leave a legacy! Call 425-349-7231 today.

(Information provided by The Leave a Legacy Western Washington chapter.)