Planned Giving

The Heritage Society is comprised of benefactors who have chosen to make planned gifts in support of a fund at Hamot Health Foundation. 

Through their legacy gifts, Heritage Society members help ensure that the communities in our region have access to world-class health care and the resources they need to thrive. 

Planned gifts to Hamot Health Foundation can be funded with cash, equity, or property and are always designed to honor an individual’s charity goals in compliance with tax law. A number of state or federal income, capital gains, estate, and gift tax benefits* are associated with planned giving through the Heritage Society, and the variety of assets that may be given is diverse – securities, cash, insurance, personal property, real estate, business interests, and retirement plans.

*The tax benefits to each donor are different and anyone considering donating should consult an estate planning attorney to discuss the optimal type and amount of gift.

Types of Planned Gifts

A last will and testament reflects the things, individuals, and organizations that you love and value most. Bequests to the Foundation can be expressed as a dollar amount, a percentage of an estate, or as a piece of property, and the benefactor may designate how their gift should be used. A bequest made through a will or trust is free of estate tax.

A charitable gift annuity rewards the benefactor or their loved ones with a dependable fixed income for life, provides a charitable income tax deduction, can potentially reduce estate taxes, and may enable capital gains tax savings. Charitable gifts can be funded with cash or marketable securities and are designed for people of retirement age or older. Income provided through these gifts is based on age and remains fixed for life.

Remainder trusts are versatile planned gifts that can provide for several loved ones, be customized to the benefactor’s needs, and serve as vehicles for giving non-traditional assets such as land or real estate. The trust payout rate is determined at the time of establishment, and its payout percentage remains the same, although income may fluctuate depending on market performance.

Qualified retirement accounts such as an IRA, 401(k), Keogh, or SEP are also great resources for planned giving. While these assets are heavily taxed for heirs, charitable gifts made from these accounts are tax free.

Real estate is an excellent type of planned gift and can be given outright, deeded as a gift, or sold below market value. Benefactors may give residences or vacation homes while retaining the right to living in them for the remainder of their lives. Benefactors giving real estate are entitled to income tax deductions, as well as potential reductions in their taxable estates.

Gifts of insurance policies can be simply arranged by naming Hamot Health Foundation as a beneficiary. This form of planned giving is particularly appropriate when policies have outlived their initial purposes, and it also enables benefactors to make significant gifts without negatively affecting cash flow.

We can help you achieve your philanthropic and estate-planning goals. Call Boo Hagerty, President of Hamot Health Foundation, at (814) 877-7020.