LEAVE A LEGACY
Since 1983, HOW has been a leader in permanent solutions to homelessness. Through prevention strategies; expanded, affordable, supportive housing; and individualized support services we have helped thousands take back their lives.
There are many ways to leave a meaningful, lasting legacy of impact on the problems of poverty and homelessness in Chicago. Planning a charitable gift to HOW helps women, children, and families in need by providing them with affordable housing, support, and the tools they need to rebuild their lives and create a brighter future.
Contact your financial adviser and/or attorney about how you can use your assets to make a charitable impact while maximizing your financial and tax benefits. There are many ways to make a planned gift - the best vehicle for you will depend on your individual circumstances. The information on this website is for informational purposes only and should not be considered as legal or tax advice.
To learn more about planned giving or to make a gift, please contact Mary Coy, Director of Development or call 773-465-5770 ext. 269.
Your last will and testament, estate plan and/or trust allow you to pass down a legacy to family, friends, and charitable causes that are important to you. You may make a bequest to HOW by directing in your will and/or other legal documents that certain assets (a specified sum of money, a percentage of your estate, or other financial assets) be transferred to HOW upon the execution of your will. During your lifetime, such assets will remain under your control and you can continue to update your bequest as circumstances chance.
Life Insurance Policies
You can designate HOW as the beneficiary or contingent beneficiary of a life insurance policy, which can reduce the value of your taxable estate.
Retirement Plan Assets
Funds held in retirement plan accounts, including 401Ks and IRAs, can often be subject to income and estate taxes when the account holder passes away, reducing the amount that is passed on to heirs. You can name HOW as a designated beneficiary in the retirement plan or direct that an IRA distribution be made directly to HOW.
Charitable Remainder Trust or Charitable Lead Trust
A Charitable Remainder Trust (CRT) provides annual payments to you or your individual beneficiaries for a term specified by the account creator. When the term of a CRT ends, any funds, securities, or appreciated property remaining are distributed. A Charitable Lead Trust (CLT) pays an annuity to one or more charitable organizations for a term specified by the account creator, providing steady, reliable income for a nonprofit organization to make an impact, then remaining assets are distributed to one or more non-charitable individual beneficiaries when the term ends.
Please be sure to discuss these or any other planned giving vehicles with your attorney or tax advisor.