Ways to Leave a Legacy
There are many ways to support Methodist Jennie Edmundson Hospital besides simply writing a check. By creating a charitable legacy plan, you can meet your family’s unique financial needs while supporting Jennie’s patients and staff far into the future.
A Gift in Your Will or Living Trust – Interested in helping Methodist Jennie Edmundson Hospital with its mission but feeling overwhelmed by the thought of writing another check or giving up assets today? By including a bequest to the Jennie Edmundson Foundation in your will or living trust, you are ensuring we can continue our mission for years to come.
Beneficiary Designations – Passionate about supporting Methodist Jennie Edmundson Hospital with its mission after your lifetime? It’s not only possible, it’s easy to do with a beneficiary designation. Just name the Jennie Edmundson Foundation as a beneficiary to receive assets such as retirement plans and life insurance policies following your lifetime. You simply fill out a form that is entirely separate from your will – which makes this an easy way to give. Not only is it easy, it’s flexible. You aren’t locked into the choices you make today and can review and adjust beneficiary designations any time you want.
Gifts That Provide Income – When you are looking for ways to help Methodist Jennie Edmundson Hospital, you shouldn’t feel like you are choosing between your charitable legacy and financial security. A charitable gift annuity allows you to support Methodist Jennie Edmundson Hospital while receiving fixed payments for life. If you have built up a sizeable estate and are also looking for ways to receive reliable payments, you may want to check out the advantages of setting up a charitable remainder trust.
More Ways to Give
IRA Charitable Rollover – If you are 70-1/2, or older, you can take advantage of a simple way to benefit Methodist Jennie Edmundson Hospital and receive tax benefits in return. You can give away any amount up to $100,000 per year from your IRA directly to a qualified charity without having to pay income taxes on the money.
Charitable Lead Trust – Setting up a charitable lead annuity trust or charitable lead unitrust is a way to benefit from the tax savings that result from supporting Methodist Jennie Edmundson Hospital without giving up assets you would like your family to receive someday
Real Estate – When you make a gift of appreciated real estate you have held longer than one year –
- you qualify for a federal income tax charitable deduction.
- you avoid paying capital gains.
- you no longer have to deal with the property’s maintenance costs, property taxes or insurance.
- and, you don’t have to hassle with selling the real estate.
You can deed the property directly to the Jennie Edmundson Foundation or ask your attorney to add a few sentences in your will or trust agreement.
Closely Held Stock – You can make a gift of closely held stock as long as the constituting documentation for the business permits additional owners and it is debt-free. The donation of closely held stock first requires you to value the interest in the business entity.
Donor Advised Funds – You can use the funds in a donor advised fund, which is like a charitable savings account, to create your charitable legacy at Methodist Jennie Edmundson Hospital. Simply name the Jennie Edmundson Foundation as the beneficiary of the entire account or a percentage of the account.
If you are interested in leaving a charitable legacy at Methodist Jennie Edmundson Hospital, your financial advisor will guide you on the most advantageous way(s) to fund your family and charitable legacies.
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.