What Are Life Income And Estate Gifts?

Life income and estate gifts, also known as planned gifts, allow donors to provide for themselves and their families, leave a legacy for the future and help strengthen quality medical care at Angel Medical Center by building the endowment. Life income gifts allow donors to receive an income during their lifetime while also benefiting Angel Medical Center. Donors may also place the Foundation for Angel Medical Center in their estates and receive tax savings.

Unlike cash gifts or gifts of real estate or tangible property, planned gifts are donations that are meant to be paid at a future date.

What Are The Benefits Of A Planned Gift?

There are many benefits for donors and Angel Medical Center. If you have sold a company or exercised stock options recently, making a planned gift can help you reduce your income taxes, eliminate capital gains taxes and estate taxes, provide for your family members and ensure your support of quality medical care at Angel Medical Center.

With the help of our experienced planned giving staff, you can design charitable gifts that will benefit you, your family and Angel Medical Center.

To learn more about how you can use planned gifts to enhance your life and support Angel Medical Center, please contact Bea Sanford, executive director, at (828) 349-6887 or Email

 

Types Of Planned Gifts:

 

• Bequests Gifts made by a will or trust that don’t take effect until death.

• Life Income Gifts Irrevocable gifts in which the donor reserves the right to receive cash flow for their lifetime. Donors receive income and estate tax deductions in most cases.

• Charitable Remainder Annuity Trust Ideal for gifts in excess of $100,000 in which a donor makes a gift and receives a fixed percentage of cash flow based on the initial market value of the gift.

• Charitable Remainder Unit Trust For gifts in excess of $100,000 in which a donor makes a gift and receives a fixed percentage of cash flow based on the market value as determined on the first business day of each year.

• Charitable Lead Trust Used to fund a gift over time while reducing income taxes or eliminating gift and estate taxes. Angel Medical Center receives payments for a period of time, and assets are returned to the donor or heirs at the end of the term.

• Gifts of IRAs IRAs and other Qualified Plans could be subject to both income taxes and estate taxes when given to individuals. Consider using those assets for charities while reserving your other assets for heirs.

• Gifts of Life Insurance Policies Where Angel Medical Center is named owner and beneficiary.