A bequest is a gift from your estate – a transfer of cash, securities, or other property made through your estate plans. Remembering the IMH Foundation with a bequest from your estate will help sustain and strengthen the hospital for years to come, without lessening your assets during your lifetime.
Charitable Remainder Trust
A charitable remainder trust allows you to convert a highly appreciated asset (such as a stock or real estate) into lifetime income, without having to pay capital gains or estate taxes. The remainder of the assets are paid out to the charity of your choice at the end of your lifetime.
Qualified retirement plan assets can be left to the IMH Foundation without being subject to the same income and estate taxes that they would be subject to if left to an individual. Naming the IMH Foundation as a beneficiary can be a great way to leave a lasting legacy, while focusing more tax-favored assets to your loved ones.
The most tax-effective way to donate life insurance is to transfer the policy so that your charity of choice becomes the owner and beneficiary. If you name IMH Foundation as the owner and beneficiary, you are entitled to an immediate charitable deduction for income tax purposes. In addition, the policy is removed from your estate, which could mean significant tax savings.
Charitable Lead Trust
A charitable lead trust is often seen as the inverse of a charitable remainder trust. During the term of the charitable lead trust, payments are made to one or more designated charitable beneficiaries. At the end of the term, the remainder of the trust is distributed to non-charitable beneficiaries, such as family members.
Charitable Gift Annuity
A charitable gift annuity allows a donor to transfer cash or property to a charity in exchange for a partial tax deduction and supplemental income over the period of the annuity term. At the end of the annuity term, the principal is left to the IMH Foundation as a legacy gift from the donor.