It’s as Simple as One-Two-Three
Not everyone wants to commit to making a gift in their wills or estates. Some prefer the increased flexibility that a beneficiary designation provides by using:
- IRAs and retirement plans
- Life insurance policies
- Commercial annuities
It only takes three simple steps to make this type of gift. Here's how to name West Texas Rehabilitation Center as a beneficiary:
- Contact your retirement plan administrator, insurance company, bank or financial institution for a change-of-beneficiary form.
- Decide what percentage (1 to 100) you would like us to receive and name us, along with the percentage you chose, on the beneficiary form.
- Return the completed form to your plan administrator, insurance company, bank or financial institution.
An Example of How it Works
Ted and LeaAnn treasure the financial help they've been able to give their children and West Texas Rehab over the years. The couple recently updated their will to leave stocks and real estate to their kids. They left West Texas Rehab a $75,000 IRA to be transferred following their lifetime. Because West Texas Rehab is tax-exempt, all $75,000 will help support our mission.
If Ted and LeaAnn had left the IRA to their children, approximately $18,000* would have gone to pay federal income taxes—leaving only $57,000 for their family's use. Ted and LeaAnn 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 24 percent marginal income tax bracket.
Next Steps
- Contact any of our Foundation officers to talk about supporting West Texas Rehab by setting up a gift through a beneficiary designation.
Chad Hirt at (325) 277-0442, chirt@wtrc.com
Chuck Rodgers at (325) 669-4139, crodgers@wtrc.com
Jason Weaver at (806) 420-0771, jweaver@wtrc.com
- Seek the advice of your financial or legal advisor.
- If you include West Texas Rehab in your plans, please use our legal name and federal tax ID.
Legal Name: West Texas Rehabilitation Center, Inc.
Address: 4601 Hartford St, Abilene, TX 79605 or 3001 N. Jackson, San Angelo, TX 76904 or 908 1st St, Ozona, TX 76943
Federal Tax ID Number: 75-0868320
