Planned Giving

Planned gifts allow you to give back to the causes that mean the most to you.  Depending on how they are structured, planned gifts can also offer tax benefits, provide income to you and your family and ensure flexibility should your circumstances change.

We invite you to explore how planned giving can help you realize your financial goals while creating a brighter future for Hospice of the Western Reserve (HWR).

For more information, please contact Holly Selvaggi at 216-255-9066 or hselvaggi@hospicewr.org.

Charitable Gift Annuity

A charitable gift annuity is a gift that allows you to support HWR while receiving fixed payments for life. In return for a gift of cash or securities, HWR agrees to pay you and up to one other individual, a fixed amount of income for life. In addition, you receive a variety of tax benefits, including a federal tax charitable deduction at the time you make the gift.

CALCULATE YOUR BENEFITS

Will or Living Trust
A bequest is one of the easiest gifts to make. With the help of an advisor, you can include language in your will or trust specifying a gift to be made to a family member, a friend or HWR.
There are many benefits to making a bequest to HWR:

• You leave a lasting legacy to HWR
• You lessen the tax burden on your family
• You may receive estate tax savings

There are many options for your bequest to HWR:

• You can donate a specific dollar amount
• You can donate a percentage of the value of your estate
• You can donate the balance or residue of your estate
• You can make a beneficiary designation of certain assets

Bequest of Insurance

Charitable gifts of life insurance can enable you to substantially increase the potential amount of your gift to HWR while enjoying certain tax advantages. You have three basic choices in planning a gift of life insurance:

• You may give an existing polity to HWR by making HWR both the owner and beneficiary
• You may apply for a new policy and make HWR the original owner and beneficiary
• You may designate HWR as the beneficiary of a policy you continue to own.

Simplicity is one of the major advantages of life insurance gifts. You simply sign an assignment and/or change of beneficiary form provided by the insurance company that issued the policy, designating HWR as the owner and/or beneficiary of the policy.

Real Estate

A gift of real estate is a generous way to support HWR without touching your financial accounts. When you gift appreciated real property that you’ve held for longer than one year, you get a federal income tax charitable deduction, and you avoid capital gains taxes. Additionally, you no longer need to deal with that property’s maintenance costs, property taxes or insurance. Another benefit is that for some properties, you do not have to sell the real estate. You can deed the property directly to HWR or ask your attorney to add a few sentences to your will or trust. 

IRA Qualified Charitable Distribution

You can make a gift today and save on your taxes. It is possible when you support HWR through your Individual Retirement Account (IRA).

This is a special opportunity for those 70 ½ year old and older. You can give any amount – up to $100,000 – per year from your IRA directly to HWR without having to pay income taxes on the money. Gifts of any amount of $100,000 or less are eligible for this benefit and you can feel good knowing that you are making a difference at HWR. This popular gift is commonly called a Qualified Charitable Distribution or an IRA Charitable Rollover.

For more information, please contact Holly Selvaggi at 216-255-9066 or hselvaggi@hospicewr.org.