Creating a Legacy
A planned gift to LRGHealthcare in your will not only benefits the hospital and the quality of healthcare provided to our community, but it may also support your personal estate tax and financial goals. Planned gifts of the past have helped to create our strength of today and your gift of tomorrow will do the same for future generations.
Donors may make LRGHealthcare the owner and beneficiary of life insurance policies. An existing policy yields a current charitable income tax deduction approximately equal to the cash surrender value. A paid-up policy yields a charitable income tax deduction approximately equal to the policy’s replacement value. (The exact figure is available from the issuing company.) Whether it’s a new policy or an existing contract, donors continue to pay the premiums and take a charitable deduction for each additional premium payment.
Planned and Life Income Gifts
Charitable Bequests: A gift by will to LRGHealthcare offers estate tax savings and creates a living legacy to ensure a stable future for LRGHealthcare and the health of the community. Donors may make a gift of specific assets, of a portion of their estate or of their residual estate after payment of other bequests. Bequests are entirely free from federal estate tax and therefore offer substantial estate tax savings.
Retirement or Pension Plans: These plans are treated as income to the beneficiaries when received and can result in a significant tax. No estate tax or income tax is owed on these plans by naming LRGHealthcare as the beneficiary of a retirement or pension plan.
The following gifts can allow donors to increase their income, diversify assets, receive a tax deduction, and avoid or defer capital gains. The payments provided by these plans can benefit the donor as well as other named beneficiaries for life or a term of years, at which time LRGHealthcare receives the remaining interest.
Charitable Gift Annuities: A charitable gift annuity is a contract between LRGHealthcare and the donor. The donor transfers cash or negotiable securities in exchange for the promise of LRGHealthcare to pay an annuity to the beneficiary for life. Annuity rates are based on the ages of the income beneficiaries.
Deferred Charitable Gift Annuities: A donor can also create a deferred charitable gift annuity to begin payments at least one year and a day after creating the annuity. The annuity rate is greater the longer the donor defers the initiation of the payments. This annuity can help with retirement planning.
Charitable Remainder Trusts: Charitable Remainder Trusts pay either a fixed percentage of the value of the trust (unitrust) or a fixed payment (annuity trust) annually for the life or a term of years. Cash, appreciated securities, real estate and other assets can be contributed to these trusts.
Pooled Income Fund: Pooled Income Fund pools the contributions of multiple donors for investment purposes and the donor and/or named beneficiaries receives an annual lifetime income that represents his or her share in the fund. The LRGHealthcare Pooled Income Fund offers three options for investments purposes – Growth, Income, or Growth & Income. Upon the death of all beneficiaries of donor’s portion of the fund, the money will be used as you have directed by LRGHealthcare. Cash, appreciated securities, real estate and other assets (at the discretion of the trustee of the fund) can be contributed to the fund.
Charitable Lead Trusts: A Charitable Lead Trust pays a current stream of income to the charity for a lifetime or a set number of years which then reverts to the grantor of the trust or the grantor’s heirs. This payment can be set up as a percentage of the value of the trust or a fixed payment annually for life or a term of years. The trust can help reduce gift and estate taxes.
Gifts for the Future & Stock Gifts
Appreciated stock, bonds or mutual fund shares are a popular way to support the programs and services of LRGHealthcare, while providing tax advantages to you.
If you choose to donate stocks to LRGHealthcare, please know that the value of the gift (for tax purposes) is based on the fair market value of the stock on the date of the gift. Because of capital gains considerations, it is more beneficial to you to transfer appreciated securities directly to LRGHealthcare rather than sell them and donate the proceeds. Securities are sold by LRGHealthcare upon receipt.
Our brokerage account is handled by Laconia Savings Bank.
The contact person is Deanna Guyer.
Laconia Savings Bank
62 Pleasant Street
Laconia, NH 03246
Account Name: Laconia Savings Bank
DTC Participant #901
Account # 205811
Please consider LRGHealthcare in your will and help make a difference in the lives of countless people in the future. To make a gift or to discuss details about how to become a supporter, please contact the Office of Philanthropy at (603) 737-1042 or email@example.com.