Life Insurance
You can name the WCF the beneficiary (or co-beneficiary) on an existing life insurance policy. In the event of your death, WCF receives the proceeds of the policy as a bequest, which may generate federal estate tax benefits. If you also make the WCF owner of the policy and relinquish all incidents of ownership, you may be able to claim an income tax deduction for the cash surrender value.
If you would like to “dedicate” your gift to an individual child, you may do so. Once the WCF’s support for the child has been completed, any funds leftover will go back into our general fund. Gifts are not “restricted” to certain individuals because restricted gifts are not tax deductible by U.S. law.
