THE POWER OF PLANNED GIVING – LEGACY SOCIETY
You can have a lasting impact on the health of future patients at Greenwich Hospital by becoming a partner in the Legacy Society, a recognition society that honors those who have made a commitment to Greenwich Hospital through their estate plans.
Make legacy gifts at any age and create an opportunity that benefits you, your family and Greenwich Hospital. Also known as Planned Giving, Legacy Society partnership offers ways for you to help sustain the vital services the hospital provides to the community without affecting your current lifestyle or your family’s financial security.
Your contribution can present tax benefits as well as a steady stream of income for your life.
To design a gift that works best with your philanthropic wishes, we recommend you obtain professional counsel from an attorney who specializes in estate planning. We will work with you and your advisors to help you plan for tomorrow and receive maximum benefits today.
Some types of planned gifts you may want to consider include:
Bequests or Wills
Naming the hospital in a will, also known as a bequest, could provide tax estate benefits. Bequests of cash, securities, real estate or personal property (art or jewelry) can be designated as unrestricted or directed to a special area.
Life Income Gifts
Life income gifts can take many forms, including charitable gift annuities or charitable remainder trusts. These gifts provide the donor (or person designated) with an annual income and possible tax benefits, while supporting the hospital.
Charitable Lead Trusts
Charitable lead trusts involve an annual gift to Greenwich Hospital for the lifetime of one or more individuals or for a fixed time period.
You can designate Greenwich Hospital as the beneficiary to a life insurance policy that may no longer be needed for its original purpose.
Gifts of real estate (land, investment property or home residence) help to support the hospital and may provide tax benefits for you.
Retained Life Estate
When you create a retained life estate, you deed your residence or vacation home to Greenwich Hospital, but retain the right to live in it for the rest of your life with no disruption to your living arrangements or cash flow. It may also reduce estate taxes by removing the property from your taxable estate.
Retirement accounts can be used as source of charitable giving in a variety of ways.
Savings Accounts and Certificate of Deposits
Funds in saving accounts and certificates of deposits can support Greenwich Hospital if the hospital is a joint owner of the account with rights of survivorship only.
For more information about a specific type of planned gift, Legacy Society partnership, or an illustration of the income and tax benefits of making a planned gift, please contact our office. All information remains confidential and does not obligate you in any way to complete a gift to Greenwich Hospital.