LEAVE A LEGACY
“What you leave behind is not what is engraved in stone monuments, but what is woven into the lives of others.”
― Pericles
Weave hope into the lives of others with a legacy gift to Hospice Giving Foundation. Please remember Hospice Giving Foundation in your will or as a designated beneficiary. Help others receive end-of-life care marked by compassion and grace, while fulfilling your desire to impact the lives of those around you and generations to come. Your legacy gift will support dignified care at end of life.
OVERVIEW
Planned gifts include bequests, charitable trusts, gifts of retirement plan assets, gifts of life insurance policies, and gifts of tangible personal property. Gifts can be made while you are living or through your estate. Many planned gift options offer tax benefits, lessening the burden of taxes on your family. Letting us know about a bequest allows us to ensure your wishes are honored.
Through certain plans, such as a Charitable Gift Annuity, you can have income during your lifetime, while still supporting a cause that enhances care for those with serious illness. As a donor, planned giving allows you to retain control of your assets during your lifetime, and your bequest can be modified as needed if your circumstances change. We would be pleased to work with you and your advisors to structure a gift that best fulfills your charitable goals.
It’s never too soon to be intentional about the legacy you will leave. Learn more below, or call us at 831.333.9023 to start making your plans today.
SHARE YOUR PLAN
TYPES OF PLANNED GIFTS
The simplest form of bequest involves giving a specific amount, a percentage of your estate, or a gift of real property to a named beneficiary. Sample language for your gift is below.
I hereby give, devise, and bequeath to Hospice Giving Foundation, a nonprofit California corporation with tax ID#94-2404634, [dollar amount] or [percentage of estate] or [real property] to be used for [funding purpose] or [to strengthen end-of-life care in our community]. I understand and agree that should the specific program or purpose for which this bequest is made ceases to exist, Hospice Giving Foundation may utilize the bequest for such other uses and purposes as it determines to be in accordance with my original intent in making this gift.
Charitable Remainder Trust
Through a charitable remainder trust you can transfer assets, such as stocks, into a trust benefitting Hospice Giving Foundation. During your lifetime, you may still receive an income from these assets. When you establish a charitable remainder trust, you and the trustee agree to the percentage of the annual payment to you and/or other beneficiaries. The percentage payout must be at least 5 percent of the trust assets’ fair market value each year and is generally taxable to the beneficiaries. At the end of the trust term, the assets remaining in the trust are distributed to Hospice Giving Foundation for the purpose you designate.
Because the trust is allowed to sell appreciated assets without any capital gains tax, then reinvest for higher return, your overall retirement income may increase, and you may receive a federal income-tax deduction in the year of your gift. Please consult your tax advisor.
Gifts of Real Estate
If you own a home without a mortgage and your circumstances allow, you and your family may deed it to Hospice Giving Foundation. You can continue to live there for the rest of your life if so desired. You will receive a federal income-tax deduction in the year of the gift. While the asset is fully owned by Hospice Giving Foundation, an agreement will be entered into regarding insurance, property tax, and maintenance costs.
Giving from your retirement plan
A retirement plan can be a tax-efficient and simple way of including Hospice Giving Foundation in your estate plan. The best method is to name Hospice Giving Foundation as a primary or secondary beneficiary. Most retirement plans are subject to income taxes — and possibly estate taxes – however, when a charity is named as the beneficiary, the donor’s estate may receive a tax deduction.
Retirees can also make gifts to qualified charities via a “rollover” directly from their IRAs. A distribution from a traditional IRA normally incurs taxes. But account holders aged 70½ or older who make a contribution directly from a traditional IRA to a qualified charity can donate up to $100,000 without it being considered a taxable distribution. The deduction effectively lowers the donor’s adjusted gross income (AGI), reducing or replacing their required distribution.
Life Insurance
You can make Hospice Giving Foundation the beneficiary of your life insurance policy, and your estate may receive a charitable deduction from estate taxes for that gift. You may also, under certain circumstances, make Hospice Giving Foundation the owner of a life insurance policy on your life, and receive an income tax charitable deduction for a portion of the face value of that policy.
Please consult with your attorney to ensure that the proper bequest or gift language is incorporated into your estate planning documents and use “Hospice Giving Foundation” with the tax ID# 94-2404634 as the beneficiary.
Have you already included us in your estate? Don’t forget to let us know! You will be celebrated as a member of our Legacy Society and we will be better positioned to ensure your wishes are fulfilled. Submit the form above or call us at 831-333-9023 to notify us of your gift.