Estate Planning and Legacy Giving

WOLF SANCTUARY OF PA., INC. (Wolf Sanctuary of PA) is a 501(c)(3) charitable organization under the Internal Revenue Code of 1986, as amended.  Including Wolf Sanctuary of PA as part of your Estate Planning is a wonderful way to leave a lasting legacy for the future of the wolves. There are some things to consider as you make your plans.

If you have a life insurance policy, annuity, an IRA or if you participate in a 401(k) or other qualified retirement plan, you can designate Wolf Sanctuary of PA as a beneficiary in the event of your death on a beneficiary designation form.

If you have a specific bank account or investment account you would like to pass to Wolf Sanctuary of PA upon your death, you can complete a form through that bank or brokerage firm so that the account will be payable on your death (POD) directly to Wolf Sanctuary of PA as your designated transferee.

The contributions by beneficiary designation described above usually will be distributed directly to Wolf Sanctuary of PA shortly following your death without passing through “probate”, and the full amount of the distribution will benefit the charity.

If you wish to include Wolf Sanctuary of PA and other charities in your Will or a trust, you can designate a specific dollar amount or percentage of the estate or the trust principal that you would like to go to each charity for its general purposes or for such specific purpose or purposes as you may describe.   These bequests pass through probate or the trust administration process and are paid out as and when the estate or trust are becoming ready to close.

Another planning idea for your consideration is lifetime gifting from your IRA.  If you are over 70 ½ years of age you may contribute up to $100,000.00 (each year) from your IRA directly to Wolf Sanctuary of PA or other charities, and you will not have to pay income tax on the IRA distribution.  Because qualified charities do not pay income tax, the full amount of the distributions benefit the charities.