Plan Your Legacy
Including The Sight Center of Northwest Ohio in your estate plan is a meaningful way to support our mission while potentially providing tax and financial benefits for you and your loved ones. Your legacy can help ensure that people with vision loss have the skills, confidence, and support they need to live independently.
Legal Information for Your Planned Gift
When naming The Sight Center in your estate plan or other planned gift, please use our legal name:
Toledo Society for the Blind
DBA The Sight Center of Northwest Ohio
1002 Garden Lake Parkway, Toledo, OH 43614
EIN: 34-442825
Estate Planning Options
Here’s a guide to various estate planning options for making a charitable gift.
1. Bequests
Leave a specific dollar amount, asset, percentage, or the remainder of your estate to The Sight Center through your will or trust. Bequests are simple to establish, can be changed as circumstances evolve, and may provide estate-tax benefits.
2. Charitable Remainder Trusts
Place assets in a trust, receive income for yourself or your beneficiaries for a specified period or for life, and ultimately benefit The Sight Center. CRTs may provide income, estate, and capital-gains tax advantages.
3. Charitable Lead Trusts
Provide financial support to The Sight Center for a designated period, with the remaining assets ultimately passing to your heirs. This strategy may help reduce gift or estate taxes while supporting our mission today.
4. Gifts of Retirement Assets
Name The Sight Center as a primary or contingent beneficiary of an IRA, 401(k), or other retirement account. Charitable beneficiaries can receive retirement assets without the income tax that may apply when these assets are inherited by individuals.
5. Gifts of Life Insurance
Name The Sight Center as a beneficiary of an existing policy or consider transferring ownership of a policy to the organization. Life insurance can create a significant charitable gift, often at a relatively modest cost.
6. Donor-Advised Funds
Recommend grants to The Sight Center from a donor-advised fund. This option provides flexibility to support our mission over time while offering potential tax benefits when contributions are made to the fund.
Planning Considerations
The right charitable giving strategy depends on your financial situation, family needs, and long-term goals. We encourage you to consult your financial advisor, attorney, or tax professional before making or changing an estate plan.
When incorporating charitable gifts into your estate plan, consider the following:
- Consult a Financial Advisor: Ensure your charitable plans align with your overall estate planning goals.
- Understand Tax Implications: Charitable gifts can provide significant tax advantages; however, each option has different impacts.
- Review Regularly: Update your estate plan and charitable designations to reflect changes in your circumstances or in the nonprofit organization’s status.
Contact Us:
To learn more about estate planning options or to discuss planned gifts to The Sight Center of Northwest Ohio, please contact Tim Tegge, Executive Director at 419-720-3937 extension 3804 or ttegge@sightcenternwo.org.
The information provided here is for educational purposes only and is not intended as legal, tax, or financial advice.