An Example of How It Works

Older couple smiling Robert and Carol treasure the financial help they've been able to give their children and Meals on Wheels over the years. The couple recently updated their will to leave stocks and real estate to their kids. They left Meals on Wheels a $75,000 IRA to be transferred following their lifetime. Because Meals on Wheels is tax-exempt, all $75,000 will help support our mission.

If Robert and Carol had left the IRA to their children, approximately $21,000* would have gone to pay federal income taxes-leaving only $54,000 for their family's use. Robert and Carol are happy knowing they are making the most of their hard-earned money thanks to their updated estate plan.

*Based on an assumption of a 28 percent marginal income tax bracket.

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Next Steps

  1. Contact Christine Hockin-Boyd at 817.558.2840 or 972.351.9943 or christine@mowjec.org for additional information on beneficiary designations and how they can help support Meals on Wheels with our mission.
  2. Talk to your financial or legal advisor to learn which assets will or will not trigger taxable income when paid to a beneficiary.
  3. If you name Meals on Wheels in your plans, please use our legal name and federal tax ID.

Legal Name: Meals on Wheels of Johnson and Ellis Counties
Address: Cleburne, Texas
Federal Tax ID Number: 75-1555153