Planned Gifts
Planned gifts help ensure the special care of Hospice will always be available.
Gift Planning Opportunities: There are a number of options individuals can choose to reduce their current taxes, provide them with income if desired, and reduce estate taxes, while providing financial support to Hospice. The most common types of planned gifts include:
- Will/Bequests
- A gift to Hospice from the donor's estate.
Sample wording for Will/Bequest
A bequest to help Hospice can be in the form of a specific dollar amount, a particular asset, or a portion of the estate stated as a percentage.
The following example represents a typical bequest received by Hospice of South Central Indiana. It is merely a suggestion as to content and should be rewritten or adapted by the donor's legal counsel:
Unrestricted bequest to Hospice:
I hereby will, devise and bequeath to Hospice of South Central Indiana, Inc., an Indiana not-for-profit corporation, Columbus, Indiana, the sum of_______Dollars ($_______) or ________ percent (________ %) of the remainder of my estate to be used for the benefit of Hospice of South Central Indiana in such a manner as the Board of Directors thereof may direct.
- Gifts of Stocks
- Gifts of appreciated assets such as public or closely held stocks are one of the easiest ways to stretch your contribution to Hospice. Your gift enables you to receive tax benefits.
- Charitable Gift Annuities
- A life income gift. A simple contract between a donor and Hospice in which Hospice of South Central Indiana agrees, in exchange for a minimum donation, to pay the donor an income for the rest of his or her life.
- Charitable Remainder Trust
- Another life income gift. This approach, created by the Tax Reform Act in 1969, has more structure and flexibility than the gift annuity. Documents are prepared by the donor's attorney. These trusts make payments, either a fixed amount or a percentage of the principal, to designated people for lifetime and then Hospice of South Central Indiana receives the remainder.
- Charitable Lead Trust
- Payments are made to Hospice of South Central Indiana. At the end of a specified time period, the principal goes to the family or designated heirs.
- Life Estate Gifts
- Donation of property stipulates that donors may continue to use the property as long as they live. Tax deductions may be allowed for gifts of farms and personal residences.
- Gifts of Real Estate
- Donation of various forms of real estate may include: primary residences, vacation homes, farms, undeveloped land and commercial property. If you have owned the property for more than one year, you may be entitled to a charitable deduction equal to the full fair market value of the property.
- Gifts of Life Insurance
- You may name Hospice of South Central Indiana as a beneficiary of your policy or you may make an outright gift to Hospice of South Central Indiana and purchase a policy to replace the value of the gift.
- Hospice Endowment Fund
- Gifts of any amount may be made to Hospice's general endowment. Donations at a certain level may be pledged or paid to establish named endowment funds, to be used by Hospice as designated by donors or by the Board.
If you are interested in learning more about planned giving, please call 812.314.8098 or toll free, 1.800.841.4938 ext. 8098. Due to complexities of tax laws, we encourage you to seek professional advice regarding any questions you may have about charitable giving.
