FOUNDATION FOCUS A PUBLICATION OF WILLAMETTE VIEW FOUNDATION VOLUME 10, May 2018
Do you know about our Financial Assistance Program for Willamette View residents? Don’t let this information be the best kept secret…spread the word. The primary mission of Willamette View Foundation is to provide financial assistance to qualified residents of Willamette View whose resources have been exhausted by their residency and care needs. Our financial assistance program assists residents whose assets have been depleted due to unexpected events; for example, high health care costs or an unusually long life. Financial assistance consists of payment of full or partial payments of the resident’s residency costs at Willamette View, and some health care costs may also be paid. Our assistance supplements your resources to cover your costs of living at Willamette View. Our financial assistance program is funded by donations and provided at no cost to Willamette View residents. All residents can apply for assistance. We have a special policy for Couples whose resources have been depleted by ones move to the Health Center. Our assistance program is well funded and posed to meet the needs of current Willamette View residents. Watch our upcoming newsletters for more details about Willamette View Foundation’s Resident Financial Assistance.
LETTER FROM DIANE As we rise to shine each day, we eagerly peer out the window to see, is the sun joining us today, or will the flowers and trees be well hydrated. Spring gives us a surprise every morning. Hopefully you picked up one of our
umbrellas at the 50th Anniversary
Avoid Beneficiary Designation Mistakes
party. If not, let us know and we’ll get one to you. They’re the perfect accessory for this time of year, small, and lightweight.
Be Sure to Name a Beneficiary If you have not named a beneficiary on life insurance or a retirement account it will likely guarantee that the asset will go through
No matter what the weather, you
probate upon your death. Unfortunately, heirs might face a long
can always make your own sunshine
wait to receive their money.
by helping one another. That’s what
Designate Contingent Beneficiaries
we are doing.
It is recommended that you name a contingent beneficiary. Most likely you designated a primary beneficiary when the account was
opened and most people designate their significant other, but they do not take into account that person might predecease them. If that happens, your contingent beneficiary will receive the assets. jjjjff Review Beneficiary Designations You should review your policy or account every few years to ensure that your beneficiaries remain consistent with your over all estate planning goals. Consider a trust if Beneficiary is a Minor A trust to benefit a minor grandchild can hold assets until the child has reached a designated age. Source: www.aaii.com/journal/article/avoid
A Charitable Gift Annuity: A Way to Give and Receive A gift annuity is a contract under which a charity, in return for a transfer of cash or other property, agrees to pay a fixed sum annually for the remainder of a donor’s life, AND the donor may be eligible for a charitable deduction. A charitable gift annuity is a way to support your favorite charity. The charity agrees to pay a guaranteed amount that will never change, regardless of changes in interest rates or the ups and downs of the stock market. The payout rate is calculated to leave a remainder to support the mission of the charity. Keep in mind that you will $50,000* give up your access to the asset, as it is irrevocable, so it is important to make sure that you hold other liquid asSingle Annuitant sets to meet your current cash needs as well as other A gift annuity for a single annuitant assets to meet future care needs. Is gifting in this manner going to be a problem if you need assistance in the future? As you may recall, one of the Eligibility Standards for financial assistance prohibits gifting away your assets. However, gifts to the Foundation, including a charitable gift annuity, do not disqualify a resident from receiving assistance as it is viewed as “paying it forward” to help your friends and neighbors.
would provide the following guaranteed annual payment: Age 75 80 85 90 +
Payout Rate 5.8% 6.8% 7.8% 9.0%
Annual Payment $2,900 $3,400 $3,900 $4,500
*The minimum gift amount is $40,000.
Please call the Foundation office, if you would like to help fellow Willamette View residents who need assistance, to find out more information about a charitable gift annuity with Willamette View Foundation. This information is intended for educational purposes only and is not offered and should not be taken as legal, tax, or other professional advice. Always consult an attorney, financial planner or tax advisor.
Willamette View Foundation 11226 SE 21st Ave Portland, OR 97222 ADDRESS SERVICE REQUESTED
IN THIS ISSUE Financial Assistance
Charitable Gift Annuity
Spring is Here
THE FOUNDATIONâ&#x20AC;&#x2122;S MISSION is to help qualified
971-233-8956 Diane Wernli, Executive Director firstname.lastname@example.org Christy Noble, Administrative Assistant email@example.com
residents of the Willamette View Retirement Community maintain their dignity and independence through assistance in satisfying their need for housing and financial security. Aid is provided through resident assistance and financial management programs, educational seminars, financial information service, publications and grants to Willamette View, Inc. that benefit the communityâ&#x20AC;&#x2122;s residents.
FOUNDATION BOARD OF DIRECTORS
Spring is Here
Christie Geiger- President
The long cold winter is melting away A single red bird was spotted today
Bill Spooner- Vice President Ron Gustafson- Secretary/Treasurer Carol Cameron Jon Coney Thomas DeSouza Jonathan Enz Pat Fisher Robert Potter
Through the mist the sun is peeking Squirrels are about and acorn-seeking New life has come to fields and woods Kids venture out is sweatshirts with hoods A gopher peers out from the holes that makes Springtime is when the whole world awakes ~author unknown