Bequests Including a charitable bequest in your will is a simple way to make a lasting gift to the HCEF. Make a gift of a stated dollar amount, specific property, a percentage of your estate or the remainder after distributions to other beneficiaries. In doing so, you leave a legacy to the HCEF, yet preserve and enjoy assets you might need during your lifetime. For more information about how your charitable bequest can benefit the HCEF, please feel free to contact us. We always recommend that you consult a tax advisor or planning professional when setting up your bequest.
If you make a charitable bequest as part of your will, please inform us of your intentions. We would love to include you in our Legacy Society and in recognition, acknowledge your gift through the year. This can be done by name or anonymously.
There are a variety of charitable Bequests and some examples are listed below:
- A Specific Bequest is where a specific amount is left to the HCEF;
- A Percentage Bequest is where a fraction or percentage is made to the HCEF; and
- Bequest of remainder is where the remainder of an estate is made to the HCEF after other distributions are made
Qualified Retirement Plan A qualified Retirement Plan may be an excellent testamentary gift (cash distributed to a charity upon death). If the Retirement Plan was set up with pre-tax contributions, any assets left in the Plan upon death are subject to income tax. Transfers of assets directly to a charity may escape this income tax.
Life Insurance Naming the HCEF as the beneficiary of a life insurance policy would be a time-honored and very practical way to make a gift to the Foundation.
Other non-cash assets There are a variety of assets that can be utilized as a charitable contribution to the HCEF. These may include, but are not limited to, publicly held stock, privately held stock, stock options, bonds, real property and personal property.
There are also many other more complex Planned Giving strategies available. As a charitable institution, it is our responsibility to be familiar with the ever-changing nature of charitable giving and the tax benefits allowed. However, as a small, community-based institution, many of these opportunities may be beyond the scope of our present abilities. We would be glad to discuss any additional gifting ideas with your personal financial advisor in more detail on a case by case basis.