|
With good planning, you can make a future gift that advances your charitable
and financial goals as well as advance the health of others.
PLAN A FUTURE GIFT
With good planning, you can make a future gift that advances your charitable
and financial goals as well as advance the health of others. You can include
Wise Regional Health Foundation in your will or financial plans using
any of the following methods:
Real Estate:
If your estate is below the tax-exempt amount, no estate tax will be owed
on a bequest of your home. If you live in your home until you die, there
will be no capital gains tax when your heirs or other beneficiaries sell
the home.
Bypass Trust:
A bypass trust allows the surviving spouse to use the property, but this
person does not legally own it after the original person who transferred
the assets into a trust passes away. No estate tax will be collected from
the beneficiaries when both spouses are gone.
Life Estates:
The gift of a personal residence or farm can be made when you simply transfer
the title for the property to Wise Regional Health Foundation. In return,
you will be able to use the property for your lifetime and you will receive
an income tax deduction. The balance may be carried forward for five additional
years if the entire deduction cannot be used in the same year as the donation.
Life Insurance:
A gift of life insurance is an easy but often overlooked way to make a
significant gift to the Wise Regional Health Foundation.
Insurance gifts can take three forms:
- Name the Wise Regional Health Foundation as owner and beneficiary
of a policy that is paid up.Since this type of gift is irrevocable,
the law entitles you to an income tax charitable deduction for the policy’s
value.
- Name the Wise Regional Health Foundation as owner and beneficiary
of a policy on which you are still making payments. The policy’s
value, as well as your annual payments, is tax deductible.
- Name the Wise Regional Health Foundation as beneficiary of a policy
but retain ownership for yourself. While this gift does not result in
income tax deductions, it can help reduce your estate taxes.
Charitable Remainder Trust:
You may also transfer cash, appreciated stocks, or property to a tax-exempt
charitable remainder trust. In return, you or your named income beneficiaries
will retain income for life and a tax deduction. You will also eliminate
the capital gains tax on the gains from the sale of appreciated assets.
Wise Regional Health Foundation receives the trust balance when the trust
term ends.
FOR MORE INFORMATION:
For more information about how you can invest in the future of our community’s
healthcare and achieve your financial goals, please call Wise Regional
Health Foundation at (940) 626-1384.
|