Including The Hospice for Life Foundation in your will is an excellent way to leave a gift that will affect the lives of generations to come. It also protects your family and other beneficiaries with a tax receipt that offsets estate taxes.
Ways to Leave Your Gift:
You may gift The Hospice for Life Foundation with a specific portion or percentage of your estate, or a specific piece of other property. With this type of bequest you may ask for your funds to be directed to a specific project or area outlined in your estate. Please speak to a member of our team about the best way to direct a bequest. You may also elect to direct your estate to our greatest need; this allows the most flexibility and ease of use for the Foundation.
A specific bequest ensures that the Foundation receives a specific piece of property, such as a collection of books or a financial asset.
Before any money comes to the Foundation, all of your general bequests, debts and taxes will be fulfilled first. This is an excellent way to give when most of your estate is directed towards families and friends. Any residual monies that are donated to the Foundation will be given a tax receipt and offset the estate taxes for your beneficiaries.
Bequest with Life Interest
You may choose to have the Foundation receive your gift only after the death of a named person in your will. This person will enjoy the interest income from your gift until their death, and then the monies will be donated to Hospice.
You may also choose to designate the Foundation as your secondary beneficiary. If the first beneficiary is unable to receive the bequest, the gift will be directed to Hospice.
You are invited and encouraged to provide information to the Foundation about their bequest and provision and to send a copy of the section of their will naming the Foundation. This will allow for appropriate recognition during your lifetime.
You should always consult with your financial planner and other pertinent advisors before making a gift to ensure that your specific needs and requirements are met.