Did you know you can meet your financial goals and support the care and programs and services provided by Hospice of Rutherford County? Planned giving is the way to make your dreams come true now and leave a legacy for the future. There are many ways to blend philanthropy with your financial and tax needs. Your planning goals may include mitigating taxes and improving income production. It’s possible to create an optimal plan, which includes minimizing or eliminating estate or income taxes while improving lifestyle income.
You may even have some highly appreciated assets but wonder what to do with them. Perhaps you are thinking about your estate plans. Have you considered the many options you have to make a present and lasting impact after your lifetime? Consider the following information.

Bequests

Bequests provide a legacy of caring for terminally ill family, friends and neighbors when they need it most. By including Hospice of Rutherford County in your will or estate plan, you are helping to ensure future generations have the opportunity to receive the best quality health care and counseling right here at home. Through your will or revocable living trust, you can specify that some or all of your assets come to Hospice after your lifetime. After your lifetime, the asset(s) you specify will pass to Hospice and your estate can take a charitable tax deduction for the amount of your bequest. There are several types of bequests that allow you to designate how your estate will be distributed. Hospice of Rutherford County may also be named as the beneficiary of a life insurance policy whether the policy is paid up or premiums remain.

Life-Income Gifts Life-income gifts enable you to receive income and make a lasting gift to Hospice of Rutherford County. To create a life-income gift, you make an irrevocable gift of cash, securities or real estate to Hospice. Hospice then pays you an income in return. After your lifetime and/or the lifetimes of other beneficiaries (or a fixed term of years) the remaining balance is used to support Hospice patient care or other designated programs and services.
You are also eligible to receive an income tax charitable deduction the year you make the gift. There are ways to receive fixed or variable income and supplement your retirement. You can possibly save on estate and capital gains taxes with this form of planned giving

Appreciated Assets

Giving appreciated assets is often a simple way to make a sizeable gift to Hospice of Rutherford County while avoiding capital gains and other taxes. You can use your assets to donate appreciated securities, real estate, personal property or insurance policies now. This means your gift is immediately transferred to Hospice and you receive immediate income and future capital gains taxes. You can also use your asset to fund a gift that will provide you with steady income.

Charitable Lead Trusts

This is an excellent way to give an immediate gift to Hospice while ultimately transferring assets to your loved ones, many times with significantly reduced gift and estate taxes. You can establish a charitable lead trust by transferring cash or appreciated assets to the trust. The trustee may be a financial institution or an individual. Your trust will then provide annual income to Hospice for a period of years. After this term ends, the principal transfers to your beneficiaries, enabling you to pass significant assets to family members with little or no gift or estate tax. You may also establish a charitable lead trust under the terms of your will. This is an effective way to make a sizable gift to charity while reducing your estate taxes.

What to Do Next

The previous information describes some of the options available to accomplish short and long-term goals for you and your family and make a lasting gift to Hospice of Rutherford County. The information contained in this brochure is not intended to be tax or legal advice. Please consult a qualified financial advisor or estate planning attorney about specific ways to ensure your needs are met. Contact Hospice concerning immediate and future program needs.