Planned Giving

Planned Giving allows you to create a legacy that advances healthcare in our community.

Types of Planned Giving

With good planning, you can make a future gift that advances your charitable and financial goals as well as advance the health of others. You can include Wise Health Foundation in your will or financial plans using any of the following methods.

Real Estate

If your estate is below the tax-exempt amount, no estate tax will be owed on a bequest of your home. If you live in your home until you die, there will be no capital gains tax when your heirs or other beneficiaries sell the home.

ByPass Trust

A bypass trust allows the surviving spouse to use the property, but this person does not legally own it after the original person who transferred the assets into a trust passes away. No estate tax will be collected from the beneficiaries when both spouses are gone.

Life Estates

The gift of a personal residence or farm can be made when you simply transfer the title for the property to Wise Health Foundation. In return, you will be able to use the property for your lifetime and you will receive an income tax deduction. The balance may be carried forward for five additional years if the entire deduction cannot be used in the same year as the donation.

Life Insurance

A gift of life insurance is an easy but often overlooked way to make a significant gift to the Wise Health Foundation. Insurance gifts can take three forms:

• Name the Wise Health Foundation as owner and beneficiary of a policy that is paid up.Since this type of gift is irrevocable, the law entitles you to an income tax charitable deduction for the policy’s value.
• Name the Wise Health Foundation as owner and beneficiary of a policy on which you are still making payments. The policy’s value, as well as your annual payments, is tax deductible.
• Name the Wise Health Foundation as beneficiary of a policy but retain ownership for yourself. While this gift does not result in income tax deductions, it can help reduce your estate taxes.

Charitable Remainder Trust

You may also transfer cash, appreciated stocks, or property to a tax-exempt charitable remainder trust. In return, you or your named income beneficiaries will retain income for life and a tax deduction. You will also eliminate the capital gains tax on the gains from the sale of appreciated assets. Wise Health Foundation receives the trust balance when the trust term ends.