Consider Naming TWCVV as a Beneficiary of an IRA

Special thanks to Guest Blogger and Board member Ken Kossoff for contributing this article. Ken is a certified Specialist in Estate Planning, Probate & Trust Law by the State Bar of California Board of Legal Specialization.

Naming The Wellness Community Valley/Ventura (TWCVV) as a beneficiary on a retirement account can be a win-win situation - benefiting both TWCVV and the family of the account holder.

Individual Retirement Accounts (IRAs) are a great way to save for retirement: (a) taxes are deferred on earnings – hopefully there are earnings, in spite of market gyrations, over the lengthy period of time that most people accumulate their retirement savings; and (b) income tax is paid by the person who created the IRA only on the amount of the distributions that are taken out of the IRAs. Thus, most people think it is best to take out as little as possible, meaning they do not take distributions until they are forced to, and even then, they take only minimum distributions.

The problem with minimum distributions is that retirement accounts were really created by the government to encourage people to save for retirement. They were not created to pass to the next generation, but by taking only minimum distributions, many people leave retirement accounts with substantial savings to their surviving family members.

Regardless of whether the funds in an IRA are taken out by the person who created and funded the account or their after-death beneficiaries, income tax will have to be paid on the amounts withdrawn.

Moreover, if the account holder's estate is subject to estate taxes, the beneficiaries of the IRA can end up losing 70% to 80% in taxes. That means that for taxable estates, the beneficiaries of IRAs will get only pennies on the dollar. While there is no estate tax in 2010, in 2011, any estate over $1,000,000 is taxable at rates starting at 55%.

The only exception to paying income taxes on IRA proceeds is a donation to a qualified non-profit organization like TWCVV. If TWCVV is named as a beneficiary of your IRA, TWCVV would pay no income taxes on the IRA proceeds. At the same time, your family could get a valuable tax deduction – check with your CPA or other tax advisors on whether you would get the valuable tax benefits that are available to many taxpayers.

Thus, for someone who supports the mission and work of TWCVV, even in the absence of tax deductions, naming TWCVV as the beneficiary of your IRA can be far more valuable to the organization than it would be to your family, because TWCVV would get 100 cents on the dollar – far more than your family would get even in the best of circumstances.

Last year, there was an exception that allowed people to give their IRAs to qualified charities such as TWCVV during their life, without having to pay income tax on the proceeds before contributing them to a charity. While that tremendous benefit expired, Congress is in the midst of negotiating an extension of that law to December 31, 2010. If that happens, we will let you know.

To learn more, please contact Suzanne Drace at 805.371.0417.

Learn ten more ways to leave a legacy of hope through Planned Giving.

Help Change the Breast Cancer Experience

The Wellness Community Valley/Ventura knows that breast cancer is more than just treating the disease; there are often emotional and social challenges that may cause distress during a cancer experience. In a recent study of women affected by breast cancer, those who received emotional and social support had lower distress levels, were less likely to have a recurrence, had better overall health and were more likely to live longer compared those who did not receive the emotional and social support component.

But more research is needed to determine the social and emotional needs of breast cancer survivors, where there are gaps in care and how we can fill those gaps. That is why we hope you’ll help spread the word about The Cancer Survivor Registry: Breast Cancer M.A.P. (Mind Affects the Physical) Project, a new movement to identify and address the emotional and social needs that accompany a breast cancer diagnosis. This registry of breast cancer survivors is a critical step in understanding the impact of breast cancer and ultimately discovering innovative ways to address them.

Participating is easy. All it takes is a few simple steps:

1. Visit www.breastcancerregistry.org and create an account! It only takes 10 minutes to answer some simple background questions. (We’ll even give you a peek at how your fellow survivors have answered.)
2. Once a year, answer questions about your experience with breast cancer.
3. Enjoy access to M.A.P. Project updates, breast cancer news, existing support resources for breast cancer survivors and opportunities to take part in other studies throughout the year.

Help change the breast cancer experience for the millions of women who live it every day. Encourage breast cancer survivors to register now at www.breastcancerregistry.org. Together, we can make a difference!

Breaking Away

It's hard to watch the Amgen Tour of California and not be inspired by the enormous effort and strength shown by the athletes. Stage by stage, the cyclists are determined to stay focused and never give up until they reach their goal.

It takes even more determination to fight cancer. Through diagnosis, treatment, and recovery, cancer patients and their families struggle to face each challenge with courage and focus. And just as it takes a team of cyclists to help one break away from the pack and take the lead, it takes a strong support system to help one person fight cancer.

The similarities between athletic endurance events and the cancer journey will be very clear during this year's Amgen Tour of California, all because of Breakaway from Cancer(r). Founded in 2005 by Amgen as a complementary component to its title sponsorship of the race, Breakaway from Cancer is a national initiative to increase awareness of the important resources available to cancer patients from prevention to education and support to financial assistance and survivorship.

Leading up to and during the eight-day, 800-mile 2010 Amgen Tour of California, multiple Breakaway from Cancer activities will take place to recognize, honor and celebrate cancer survivors.

Breakaway from Cancer will also provide resources to its charitable partners - the Prevent Cancer Foundation, Cancer Support Community, Patient Advocate Foundation and National Coalition for Cancer Survivorship. These organizations provide indispensable support and advocacy to people with cancer and their families, including our participants here at The Wellness Community Valley/Ventura.

We invite you to join Breakaway from Cancer in their support of families touched by cancer. All it takes is a text message! Just text BREAKAWAY to 90999 to donate $10 to Breakaway from Cancer*.

Please visit www.breakawayfromcancer.com to learn more.


* Standard text messaging rates apply. For full terms visit mgive.com/a.

Auction Update!

The 19th Anniversary Celebration of Life Gala is a just a few days away, and we are excited to share these auction updates!

NEW ITEM:

So Cal Surf & Skate

This sporty package is perfect for SoCal!
Includes:

• Autographed Mikey Taylor Alien Workshop deck
  
• Warco skateboard deck autographed by pro skater Tosh Townend
  
• 2 hours of skateboard lessons with Tosh
  
• 3 O'Quinn surf wear shirts
  
• 6' 2" Tri Fin Surfboard by Super

Tosh Townend, a professional skateboarder from Huntington Beach, started skateboarding at the age of 7 years old and turned professional at 15.






Mikey Taylor is from Newbury Park and made his mark in the skateboarding world as one of the most gifted skateboarders out there.

Opening Bid: $500






Updates to Other Items:

"Big Fun on the Big Island" and the Breckenridge Vacation now includes 7 days of parking near LAX at WallyPark Premier Airport Parking.

"Central Coast Getaway" includes wine tastings at some of the best spots in the area: Firestone, Laetitia, Denner, and Opolo. Included is a bottle of wine from each winery on your itinerary!

"Santa Barbara Birthday Bash" includes the use of a 42-passenger van from Road Runner Shuttle & Limousine Service. (Link to auction eblast)

A Year of Wining & Dining in Westlake Village now includes a tasting for TEN at Malibu Family Wines.

The Four Seasons Luxury Package now includes a Yamaguchi Salon Makeover by celebrity stylist Billy Yamaguchi. (Link to Yamaguchi Website.)

And more...

We hope you can join us to see the other items that will be on the block. Until then, enjoy reading about all of the auction items at our website.

Real-Life Action Heroes

When you think of an action hero, images of men in capes flying through the air probably come to mind. But at The Wellness Community Valley/Ventura we have the privilege of working with real-life heroes who take action every day to make a difference in the community – and they do it all without capes!

Four of these cancer support heroes will be honored at the 19th Anniversary Celebration of Life Gala on May 7, and we are pleased to present you with a glimpse of who they are. (Of course, to really understand the enormous impact our Honorees have made, you would have to meet them in person, so we invite you to reserve your seats now for the big night!)

Bernard S. Lewinsky, MD, FACR is Medical Director of West Hills Radiation Center and has over 35 years of experience treating cancer patients. His love of nature photography inspired him to transform his office into a Healing Art Gallery where his patients find calm and relaxation in the midst of their radiation treatment. Dr. Lewinsky will receive the Celebration of Excellence award.






Helen Gateka-Anderson is the founder and past principal of Bethany Christian School in Thousand Oaks and has over 40 years of teaching experience. She has been a source of hope and compassion for her fellow support group members at The Wellness Community throughout her courageous experience with non-Hodgkin’s lymphoma and ovarian and breast cancer. She will receive the Celebration of Hope award.



John L. Notter, Sr. will receive the Celebration of Philanthropy award for supporting cancer patients and cancer research, as a community leader, a member of the Board of Directors of the Conrad N. Hilton Foundation and as Chairman of the Board of the Ludwig Institute for Cancer Research. Notter was instrumental in the development of the city of Westlake Village and is the owner of Westlake Village Inn, Bogies, and Mediterraneo Restaurant.



Lyn Woodley has dedicated countless hours of service to the cancer patients and their families who come to The Wellness Community Valley/Ventura for support and hope. As a front desk volunteer, she is the first to greet visitors and always makes them feel welcome and cared for. She was instrumental in making the 2008 and 2009 Holiday Homes Tours successful. Woodley will receive the Celebration of Life award.

We would like to thank our Honorees and everyone who has given of themselves to make life better for people touched by cancer. Heroes don’t just exist in comic books – they’re real people who have chosen to make a difference one day at a time.

A Masterful Moment

Phil Mickelson’s win at the Masters on Sunday was a stunning reminder of how cancer brings a family together. After clinching his third (but arguably his most memorable) Masters victory, Phil met his wife Amy behind the 18th green with a great big bear hug and we all got to see a single tear roll down Lefty’s cheek as they embraced. It was enough to make even the most die-hard Tiger, Boom Boom or Lee fan more than a little verklempt.

This was the first tournament Amy Mickelson had been able to attend in person after being diagnosed with breast cancer 11 months ago. In fact, Phil wasn’t sure whether Amy would be strong enough to make it that day. Happily she found the strength to be there, along with their three children, and Phil’s mother Mary Mickelson who was also sadly diagnosed with breast cancer in July.

When cancer touches a family, it changes everything. After Amy’s diagnosis, Phil suspended his PGA Tour schedule so he could be with his wife through treatment. Once it was determined that Amy’s prognosis was good, Phil planned to return to golf, only to be blindsided by his mother’s diagnosis. He took another leave from the Tour.


We see how cancer affects families every day at The Wellness Community. That’s why we offer programs that provide hope, support, and knowledge to the whole family, not just the patient. These programs include:

· Family Support Groups: Facilitated by professional psychotherapists with extensive training and experience working with people affected by cancer.

· Networking Groups: People with cancer and their loved ones can connect with others dealing with the same type of cancer.

· Kids Circle: A group for children who have a parent or grandparent with cancer. With the guidance of professional psychotherapists, kids play games, make art projects, and talk with others who know what it’s like to be part of a family dealing with cancer.

· Transition Group: For those who have experienced the loss of a loved one due to cancer.

We also offer stress reduction programs such as yoga and guided imagery, plus creative programs like watercolors and knitting. A variety of guest speakers offer insight and expertise on everything from treatment to nutrition, finances and beyond.

In celebration of families everywhere who are facing cancer together, we’d like to offer the Mickelson family our congratulations and encourage them to keep holding on to what’s important. There will always be another Masters to win or lose, but our families are the ones who are there waiting for us on the 18th green.

For more information about our free programs, please visit our website or call 805.379.4777.

Photo Courtesy of Getty Images

How To Be a Good Friend

At our cancer support center in Westlake Village, CA we have a small brochure called "How to be a good friend to a person with cancer."

We're posting the content here in the hopes that it will helpful to anyone with a friend or loved one who is fighting cancer. Please post a comment and let us know what you would add to this list!

How to be a GOOD FRIEND to a person with cancer:

Do...
...Offer your presence often and be a good listener when they are ready to talk.
...Laugh together.
...Say “I love you” and be yourself.
...Ask what you can do to help. Be sincere and specific so that they know you mean it. If they can’t come up with anything, ask again in another week or so.
...Use disposable dishwares when delivering food to reduce the stress of returning them.
...With their approval, arrange a phone or email chain to update friends on their condition, treatment, etc.
...Offer to help by driving them to appointments, taking their kids to childcare, and doing house cleaning, gardening, cooking, shopping, yard work, or babysitting.
...Respect how they choose to deal with their cancer.
...Tell them about the support, education, and hope they can find at The Wellness Community.

Don’t...
...Tell them that everything’s going to be okay because you don’t know.
...Tell them you know how they feel because you probably don’t.
...Be afraid to admit that you don’t know what to say when you really are at a loss for words.
...Hesitate to call them or leave a message to let them know you’re thinking of them.
...Avoid the subject of cancer if that’s what they really want to talk about.
...Be afraid to talk about your life. Just because they are sick doesn’t mean that they are not interested in hearing about you.
...Discount the real feelings they may be having by telling them not to feel that way, not to worry, not to be scared, or not to cry.
...Share advice unless asked.
...Be afraid to talk about difficult subjects. Ask them how they are feeling.