The Heritage Society

Your Legacy - Providing for the Future

 

You can make a lasting impact and help ensure the continuation of the services of Washington Health System for future generations. You can make a planned gift.  Even if you feel that you are a person with modest assets, there are many ways to create your own lasting legacy.  A few planned giving vehicles are:

  • Charitable Bequests through Your Will: An excellent way to ensure that your support of Washington Hospital, Hospice Care or WHS Greene continues long into the future is to include Washington Health System in your personal will. Over the years, many individuals have remembered us in their personal wills in a variety of ways. Some have bequeathed a specific dollar amount; others have bequeathed a percentage of their estate, while still others have left specific real estate and personal property.
  • Charitable Gift Annuities: A gift annuity provides several benefits to you:  you increase your lifetime income by a guaranteed amount, earn a higher percentage rate than on most investments (depending on your age), receive a valuable tax deduction, and you enjoy the personal satisfaction of making a donation during your lifetime.
  • Life Insurance Policies: Whether it is a policy you already have, but no longer need; or whether it is a new policy you buy for the specific purpose of making a donation, a gift of life insurance can be advantageous to both you and the Health System.  By naming us as beneficiary and assigning ownership of the policy to the Health System, you can get valuable income tax charitable deductions, and this type of gift won’t reduce your current income.  You can transfer the ownership of an insurance policy without the legal expense of preparing a will or codicil.
  • Charitable Trusts: You can establish a trust that financially benefits you for your lifetime, or loved ones you have named as beneficiaries for a specific number of years.  Ultimately, the principal of the trust could pass to Washington Health System.
  • Gifts of Real Estate: Consider deeding your property now and retaining the use and enjoyment of the property for your lifetime.  For this you would receive an immediate charitable deduction, and the value of your home would be removed from your estate.

 

Washington Health System Foundation has many resources that can assist you in your estate planning and when considering a charitable planned gift.  There are numerous articles and brochures available on various aspects of estate planning and many planned giving vehicles.   In addition, the Foundation has software to calculate the advantages/disadvantages of different options.  These calculations can be run for you or your legal/financial advisor in confidence and with no obligation.  The Foundation recommends that you consult with your attorney, accountant, or estate planner to identify the appropriate vehicle for a deferred donation. 

 

The Foundation hosts regular seminars on financial and estate planning.  For more information, or to be added to our mailing list, please contact Washington Health System Foundation at (724) 223-3875 or foundation@whs.org.