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You are here: Giving > Foundation > Ways to Give > Planned Giving

Planned Giving

Below you'll find information on a variety of planned giving options are addressed below. If you have questions or would like to discuss personal giving arrangements, please contact the Deaconess Foundation.

Bequests
A bequest allows you to leave a gift to Deaconess Foundation in your will.

How Do I Include Deaconess Hospital in My Will?
The procedure to include Deaconess Hospital in a will is simple and straightforward. You may include us as a beneficiary in one of two ways - by amending your present will with a codicil naming Deaconess Hospital or by drawing up a new will.

Some people leave Deaconess the remainder of their assets, after specifying bequests to family, friends and loved ones. Your lawyer or financial advisor will assist you in adding the proper clauses to your will. Without a valid will, your estate will be distributed according to state law.

A bequest for the benefit of Deaconess Hospital may be worded as follows:
"I give to Deaconess Hospital Foundation, an Indiana nonprofit corporation, (the sum of $__________) or (____ percent of the residue of my estate) or (the residue of my estate) to be used for such purposes as the board of directors of Deaconess Hospital Foundation shall direct."

What Is a Benefit of a Bequest?
Bequests offer an easy way to make a significant statement about what is important to you.

Life Estate Agreement
A life estate agreement allows you to donate a personal residence or other property at some point in the future. Until that future date, you retain all ownership rights to the property.

How Do I Create a Life Estate Agreement?
To create a life estate agreement, you must make two decisions. You will:

  • Name a recipient who will earn all rights to your property at some date in the future. In this case, Deaconess Hospital Foundation would be the recipient.
  • Define the future date when title to the personal residence or other property will irrevocably transfer to the recipient. This date may be measured by:
    • The lifetime of the residents of the contributed property,
    • The lifetime of any other individual named by the owner of the property,
    • A fixed term of years,
    • Or a combination of these options.

For details about creating a life estate agreement, contact the Deaconess Foundation at 812/450-3359.

What Is a Benefit of a Life Estate Agreement?
Life estate agreements are ideal planning vehicles for individuals who desire to make a testamentary gift of real property to charity and enjoy a current, and potentially substantial, charitable income tax deduction.

Life Insurance
If you are the owner of a life insurance policy that is not fully paid up, you may want to consider donating the policy to Deaconess Foundation.

For details about donating a life insurance policy, contact the Deaconess Foundation at 812/450-3359.

What Are the Benefits of a Donating a Life Insurance Policy?
If you donate a life insurance policy, you will receive an income tax deduction equal to either the replacement value of the policy or your tax basis (premiums paid), whichever is less. If you continue to pay the annual premiums, you will receive a charitable deduction for the premiums as well.

Charitable Gift Annuity
A charitable gift annuity is a transaction in which an individual transfers cash or property to a charitable organization in exchange for the charity's promise to make fixed annuity payments to one or two life annuitants.

As its name suggests, a charitable gift annuity consists of two elements: 1) a charitable gift and 2) the purchase of a fixed income annuity contract. Payments can begin immediately or can be deferred for a period determined by the donor and set forth in the annuity contract. The payment period can be measured by one annuitant's life (who, in most cases, is the donor) or by the lives of two joint and survivor annuitants (who are usually husband and wife). Charitable gift annuities are not issued for a fixed term of years.

What Are the Benefits of Charitable Gift Annuities?
Donors can take an income tax deduction in the year they set up a charitable gift annuity. The donation also serves as an investment from which donors receive an ongoing income. Annuity payments are fixed, so they are not affected by volatility in the stock market. Furthermore, because rates for charitable gift annuities are often higher than rates for CDs, they may generate more income than CD investments.


Charitable Remainder Trust
This form of giving involves a donor placing assets in a trust and naming a beneficiary (who may be the donor) and a charity. The trust pays the beneficiary an income, either for life or another specified period, and the beneficiary pays income taxes on trust payments received. At the end of the trust term, the trust assets pass to the charity.

What Are the Benefits of a Charitable Remainder Trust?
The donor receives an immediate tax deduction, and the beneficiary receives a regular income with freedom from investment worries and responsibilities.


Charitable Lead Trust
A charitable lead trust is essentially the opposite of a charitable remainder trust. It allows a donor to provide income to a charity for a specified period of time, but the donor holds the right to reclaim the assets or pass them to their heirs at the end of the trust period.

What Are the Benefits of a Charitable Lead Trust?
This form of giving allows a donor to help a charity in the present and provide security to a beneficiary in the future. It can also be an effective tool for minimizing estate taxes. However, tax consequences vary greatly from one arrangement to another, so donors should seek professional advice when making this type of plan.


Bargain Sale
As its name implies, a bargain sale occurs when a donor, who intends to make a charitable contribution, sells property to charity for less than its fair market value. The most common type of bargain sale occurs when a donor makes an actual sale of property to charity in exchange for cash or an installment note. However, bargain sales can also arise when a donor transfers property to a charity in exchange for like-kind property of lesser value, or when a donor transfers to charity property that is subject to an indebtedness, thereby being relieved of the obligation.

What Are the Benefits of a Bargain Sale?
The difference between the value of the donated property and the price received for the property represents a deductible donation for the seller. This form of giving is particularly attractive to donors who have property that could be useful to a charity, for example, property adjacent to a charitable organization that the organization may use for expansion.