Investing in Woodberry’s future and your ownDeep roots

hen William Browning ’82 returned to Woodberry

Forest last fall as the school’s planned giving officer, he felt a little guilty. “I hadn’t been as involved with Woodberry over the years as I could have been,” he admits, “and I hadn’t been the most generous donor.”

He and his wife, Barbara, have wasted no time getting up to speed, quickly becoming active in on-campus activities and a presence at events, on campus and beyond. “At one faculty meeting,” he says, “I was moved by how much faculty members care about each boy and look for ways to benefit any who need a boost.”

Barbara has also jumped right in, acting alongside student thespians in the school’s recent production of Fuddy Meers.

What has William learned from his rapid re-immersion into life at Woodberry? “The mission remains unchanged. The education program is advanced and the faculty and campus are very impressive. Woodberry continues to offer an excellent education with a focus on character development, leadership, and honor.”

William, known as “Yogi” during his student days, brings to Woodberry significant experience in public service and nonprofit management. A Culpeper, Virginia, native, he followed his father,

Spring 2014

Proud to Support Woodberry Forest

W

Inside:» Unable to

Donate Today?» Which Gift Is Right

for You?» Q&A: Making Your

First Will

Charlie Browning ’46, and his uncle, Preston Browning ’47, to Woodberry. Since completing his undergraduate education at the University of North Carolina at Chapel Hill and earning a law degree from Washington & Lee University, he has worked as an assistant public defender, director of constituent affairs in Virginia’s Office of the Governor, and in a variety of leadership and fundraising roles for the Woodrow Wilson Presidential Library in Staunton, Virginia. Most recently, he has been of counsel to a Virginia law firm that represents individuals and employers seeking to obtain legal permanent residency for themselves or their employees.

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William Browning ’82 is welcomed into the Walker Society by Travis Tysinger ’62.

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Planned Giving Officer Returns to His Roots

© Woodberry Forest School and The Stelter Company — The information in this publication is not intended as legal advice. For legal advice, please consult an attorney. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results.

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ave you been putting off donating to Woodberry until you are more comfortable

and secure in your finances? While that day is in sight for some, others are left wondering if it will ever come. Whichever category you find yourself in, you will be pleased to know there are ways to give — such as through your will or revocable living trust — that allow you to support the future of Woodberry without giving up assets today. Those who include Woodberry in these and other forms of planned giving become members of the Walker Society. Sound a little too complicated? Adding a gift to your will or trust

Unable to Donate Today?

H is actually quite easy. Simply ask your attorney to draft a codicil or an amendment to the existing document. A codicil is a legal document written by your estate planning attorney that changes specific provisions in your will but leaves all other provisions unchanged. An amendment can change provisions in your living trust. If you don’t have a will or trust, you will want your attorney to craft a new document that includes your gift. Your gift doesn’t have to be a specific amount. A popular option is to donate a percentage of your estate instead. You may be surprised to find that even one percent can make a big difference to Woodberry.

We Have an Option Where You Don’t Have To

» Return the enclosed survey to request sample language you can share with your attorney to complete a gift in your will or trust.

Should You Consider an Estate Gift?

If you answer yes to any of the

following questions, a gift in

your will or trust may be right

for you.

• Do you want to make a

donation that doesn’t affect

your current cash flow?

• Do you want to help ensure a

strong future for Woodberry?

• Is long-term planning

more important to you

than an immediate income

tax deduction?

here are a number of ways to amplify your impact at Woodberry. Planned gifts to Woodberry offer advantages to you, while benefiting the school. Those

who include Woodberry in their estate plans become members of the Walker Society. To find the gift vehicle that is right for you, rank these benefits in order of importance to you:

___ Retain flexibility___ Receive an income tax deduction and eliminate capital

gains taxes ___ Ensure the future of Woodberry___ Provide for heirs

Now see which type of gift matches your priorities.

To retain flexibility, consider a gift to Woodberry in your will or trust. This gift will not go into effect until after your lifetime; therefore, you are free to change your mind at any time to adapt to unforeseen circumstances.

To receive an income tax deduction and eliminate capital gains taxes, make a gift of appreciated assets that you have owned for more than one year. Your tax deduction will be for the full fair market value of the donated property up to thirty percent of your adjusted gross income, and you will be exempt from paying capital gains taxes on any increase in value. We will sell the asset and use the proceeds to support our students and programs.

To ensure the future of Woodberry, create a named endowment. You make a gift, we carefully invest the money, and then a portion of the earnings is released each year to support our students. The rest of the endowment remains invested to create a lasting legacy.

To provide for your heirs, make sure their inheritances don’t carry an unnecessary tax burden. Distributions from qualified pensions and retirement plans, for example, are subject to income taxes at the beneficiary’s ordinary income tax rate. Instead, consider leaving less tax-burdened assets, such as real estate and life insurance, to your loved ones and naming Woodberry as beneficiary of pensions and retirement plans. We are eligible to receive the full amount of these assets and bypass any federal taxes.

Which Gift Is Right for You?

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Offering a Way to ConnectAt Woodberry, William travels extensively, connecting with alumni and friends and helping them structure philanthropic gifts, which they can direct to Woodberry outright or at death as part of their financial or estate planning process. He’s embraced his responsibilities, welcoming guidance from Development Director Catherine Wharton, national estate planning expert Howard Zaritsky, and Woodberry Trustee Joe Grills, as well as Travis “Ty” Tysinger ’62, his predecessor at Woodberry.

“Planned giving offers every friend of Woodberry an additional or alternative way to support the school,” William says. “Regular donors can incorporate an extra gift into their estate plans, and those who haven’t been able to give what they’d like to can set something up that will benefit Woodberry down the road without affecting their current cash flow.”

William has taken his new duties and his allegiance to Woodberry to heart. Shortly after setting up his Walker Building office, he and Barbara met with school attorney V.R. “Shack” Shackelford ’64 — the latest in a long line of V.R. Shackelfords who have served the school in this role over the past eighty-eight years — to make arrangements to include Woodberry in their will.

A few days later, Ty Tysinger visited campus to welcome William into the ranks of the Walker Society, the recognition group for donors who have included Woodberry in their wills, by presenting him with the society’s distinctive lapel pin.

Since then, William has taken his act on the road. “On my first multi-night visit to deliver pins to new members, I was pleased to be able to say that I, too, am a proud Walker Society member and a supporter of Woodberry Forest School.”

Continued from Page 1

Proud to Support Woodberry ForestIdentify Your Goals to Uncover

the Ideal Donation Option

T

osing you will be hard enough on your family. Spare your loved ones unnecessary confusion and financial and legal burdens by planning your estate now. In addition, you can benefit Woodberry and become a member of the

Walker Society. Here are some common questions and answers to help you get started.

Is it in my best interest to have an attorney draw up my will? Yes. Even though it’s not required by law, it is to your advantage to employ an attorney who specializes in estate planning rather than attempting to do it yourself.

Do I need to know what I want the attorney to put in my will before we meet? No. Your attorney will explain the estate planning process, the impact of taxes, and how probate works in your state. He or she will also answer other questions you may have and assist you in identifying your estate planning priorities and objectives. It will help, however, if you think about the important people and charities you want to include.

What documents should I bring with me to the attorney’s office? Prepare a list of all your assets and liabilities, indicating how they are titled and the approximate value of each. Include any jewelry, antiques, and personal or household items of significant worth or sentimental value. In addition, provide the face amounts of life insurance policies and amounts in retirement plans and corresponding beneficiary designations.

How much do attorneys charge for a will? Attorneys can either charge a flat fee or bill on an hourly basis. Many offer a free or low-cost initial consultation. Keep in mind that whatever you spend now will cost you little compared to the taxes your estate could otherwise incur. The peace of mind that a professionally drafted document offers will be invaluable.

What You Can Do Today

Return the enclosed

survey to request the

FREE guide What to Do in

the First 48 Hours When

You Lose a Loved One.

Visit www.woodberry.org

to learn more about our

mission and how you

can help.

Contact us if you have

any questions about

the different ways to

support Woodberry.

William Browning, Planned Giving OfficerWoodberry Forest School • Woodberry Forest, VA 22989 (540) 672-6058 • Fax: (540) 672-6018 • william.browning@woodberry.org

www.woodberry.org

Making Your First WillIt Is Never Too Early to Create This Vital Document

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PAGE four

Q&A

Did you know? You can

remember Woodberry in your

will or trust by simply adding

a few lines to your document.

Return the enclosed survey

to request official language to

share with your attorney.