You can continue fighting hunger after your lifetime.
When you include Waste Not Want Not in your estate plans, you provide resources essential to achieving the vision of no one going hungry while good food goes to waste. There are several ways you can continue to make an impact, either by leaving a bequest to us or by designating us as a beneficiary. We recommend that you contact your professional advisor or plan administrator to determine if this type of gift to Waste Not Want Not, Inc. (Tax Id 35-2244427) is right for you.
In your will, you can make a specific bequest of a dollar amount, a stated fraction of your estate, or specified gifts-in-kind such as collections, art, books, jewelry, real estate, etc.; a residual bequest leaving a percentage or all of the remainder of your estate after other specific legacies have been fulfilled; or a contingent bequest redirecting a gift intended for other beneficiaries in the event of their prior passing.
How does a bequest work?
- A bequest costs nothing now, yet gives you the satisfaction of knowing you have provided for a charity’s future.
- You retain control and use of your assets during your lifetime.
- You may modify your bequest if your circumstances change.
- Gifts from your estate may be exempt from federal estate taxes.
When you make a gift to Waste Not Want Not from certain assets, including your retirement plan, insurance plan or other assets, you make it possible for people struggling to make ends meet to receive wholesome food. These gifts are easy to make, simply contact the company that holds your assets and completing a beneficiary form.
Bank accounts, CDs, and brokerage accounts: Naming Waste Not Want Not as the beneficiary of a checking or savings bank account, a certificate of deposit, or a brokerage account is one of the easiest ways to positively impact those in need.
Retirement funds: Most people do not use all of their retirement assets during their lifetime, and those unused assets can be used to make a tax-advantaged gift to Waste Not Want Not.
Life insurance: If you retain the policy and name us as beneficiary, the proceeds of your policy will be paid to Waste Not Want Not and your estate will receive the tax deduction from the charitable gift receipt.
Donor-advised fund residuals: Please consider naming Waste Not Want Not as a successor of your account or a portion of your account value so that we can continue rescuing food for those in need.