Are you a philanthropist?
Quality healthcare for everyone will always be a need regardless of the financial climate. Whether due to tax consequences, or the quality care a loved one received, a charitable gift to Broward Health Foundation makes good business sense. The difference between a good hospital system and a great hospital system is philanthropy.
Broward Health Foundation would like to be your charity of choice when you are creating your estate plan. We can provide guidance as to how you can simply designate Broward Health Foundation in your will, or make us a beneficiary to a life insurance policy you may already own. We can also provide opportunities to create income for yourself or your children and help Broward Health Foundation as the same time.
| Things You Should Know About Planned Giving |
- A planned gift, by definition, is any gift made with forethought about the benefits to a charity and the financial impact on the donor.
- Any age is the right age to think about protecting your assets and creating a charitable legacy.
- You don’t need to have a lot of money to have a charitable plan, any gift would be greatly appreciated.
- Planned gifts are more than a bequest, they can be tax saving and income producing during your lifetime.
- Broward Health Foundation is committed to helping you realize your charitable intent by making the concept simple. The examples to follow can all be tailored to accommodate your finances as well as your charitable desire.
Outright Gifts
Outright gifts during life are one of the simplest ways to make a contribution and are just what the name implies -- gifts transferred immediately from you to Broward Health Foundation. Besides the gift of cash, donors can develop other ways in which outright gifts can be made to Broward Health Foundation. For example, gifts of appreciated securities and real estate often produce greater benefits for donors through capital gains tax savings.
A Bequest at Death
A bequest is a provision within a will in which you specify that certain assets be left to individuals or institutions of your choice. Bequests are the most common form of a planned gift and specific bequests provide for a specific dollar amount or specific asset(s) can be given to the Broward Health Foundation. Residuary bequests, like other gifts, can be given without restrictions or can be designated for specific purposes. Today’s federal estate tax laws favor charitable bequests, so a gift through your will or trust can be a great way to support Broward Health Foundation and reduce estate taxes as well.
Charitable Gift Annuity
This is a simple agreement between you and the Broward Health Foundation, whereby we pay you a lifetime annuity in exchange for a charitable gift. The amount of this annuity depends on market interest rates and the age of the beneficiary. Under certain circumstances, a large portion of the income from the annuity can be tax free or taxed at capital gains rates.
Charitable Remainder Trust
This vehicle pays you the income based on a fixed amount of the trust property. It also provides you with security of a fixed income despite stock market fluctuations.
Gift of Life Insurance
Consider taking the annual gift that you give to the Broward Health Foundation and take that money and purchase a life insurance policy. If you name Broward Health Foundation as the beneficiary, you can maximize your gift and create a true legacy.