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  3. Robert Hodge

Meet Robert Hodge of Westminster Towers Orlando

Robert HodgeWe are spotlighting Westminster Towers Orlando resident Robert Hodge, a member of the Foundation's Legacy Society. Our Legacy Society honors donors who have generously included the Westminster Retirement Communities Foundation in their estate plan.

Robert served in World War II and the Korean War and as a member of the Naval Air Reserves from 1953 to 1978. While in the Reserves, he worked for Sperry Gyroscope and later, Grumman Aircraft Engineering Corporation. He was a member of the Riverhead Town Planning Board for 16 years, and retired to Florida in 1990. Robert moved to Westminster Towers in 2018, when he was 100 years old.

Robert is a regular at Dr. Phillips Center for the Performing Arts and Winter Park Playhouse, so Westminster Towers was the natural choice for him due to its close proximity to downtown Orlando and countless amenities.

"This place fills my needs so well and I have been so well-received, I wanted to express my gratitude by leaving a portion of my estate to the Towers," Robert says. He directed his bequest to the Employee Scholarship Fund because he believes, "After you climb a ladder, you don't push the ladder down, you help the next person up." His other philanthropic interests include Southern Poverty Law Center, United Negro College Fund and the Tuskegee Airmen.

In addition to attending shows at the theater, Robert enjoys reading historical fiction and watching programs on PBS. He celebrated his 102nd birthday in July and says the secret to long life is "the grace of God and good genes."

You can join Robert and numerous other generous supporters of Westminster Communities when you include us in your future plans. Already made a gift? Let us know by contacting Hyacinth L. Mayberry at 407-839-5050 ext. 227 or hmayberry@wservices.org. It would be our honor to welcome you into the Legacy Society.

Information contained herein was accurate at the time of posting. The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. California residents: Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. Oklahoma residents: A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. South Dakota residents: Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.

A charitable bequest is one or two sentences in your will or living trust that leave to Westminster Communities of Florida a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

"I, [name], of [city, state, ZIP], give, devise and bequeath to Westminster Communites of Florida [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to WRCF or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to WRCF as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to WRCF as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and WRCF where you agree to make a gift to WRCF and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.
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