Planned giving allows you to make a great difference in the lives of patients and families, while taking advantage of unique tax savings and/or income benefits.
Following are the most common types of planned gifts.These are simply an overview of your options, and are not intended to constitute tax, accounting or legal advice. Donors should consult with their own professional advisors regarding a planned gift.
Bequest
A bequest through a will or living trust does not reduce your current income, yet enables you to provide substantial future support for a cause you care about. You may specify that Pikes Peak Hospice Foundation receives:
- A specific dollar amount
- A percentage of your estate
- Certain assets, such as real estate
- A remainder of your estate after everyone else is provided for
Charitable Trusts
A Charitable Remainder Trust is a special tax exempt trust to which you can give appreciated stock or real estate. The trust then provides you with an income stream for life, and upon your death, all assets remaining in the trust pass directly to Pikes Peak Hospice Foundation. You also bypass all capital gains taxes on the appreciated property, and further receive a current charitable income tax deduction.
Life Insurance
A gift of life insurance enables you to make a substantial future gift to Pikes Peak Hospice Foundation without financial impact during your lifetime. You can donate a policy you already own that no longer serves its original purpose, a policy you buy to specifically benefit Pikes Peak Hospice Foundation, or a policy in which you name Pikes Peak Hospice Foundation as a contingent beneficiary.
Retirement Plan Assets
Retirement plan assets are different from most other assets a person owns. At death, most retirement plans are subject to an estate tax and income tax. Because of the income tax levied on most retirement plan assets when they are transferred, those assets are ideal to fund a charitable gift at death.
