Planned Giving
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Making a planned gift is one of the best ways to support the John C. Lincoln Hospital Foundation. Planned gifts allow donors to make a significant impact over an extended period of time while taking advantage of many benefits, which may:
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Reduce your taxes
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Increase your income
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Conserve your family's wealth
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Fulfill your charitable goals
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Be designed to reflect your special interests
The Lincoln Legacy Society
Donors who make a planned gift of any kind will be recognized as members of
The Lincoln Legacy Society. If you are interested in any of our Planned Giving options, we will be pleased to work with you and your advisors to develop a planned gift that best suits your particular needs. For more information or to discuss your needs in confidence, please contact Evan Bernstein at (602) 870-6060 ext. 1730 or
evan.bernstein@jcl.com.
Gift Planning Options:
Income Producing Gifts
A number of plans allow you to make a gift to the network and receive an income for yourself and your beneficiaries. The most common plans are charitable gift annuities and charitable remainder trusts. These benefits include:
- Increased cash flow to yourself while still making a significant gift to the John C. Lincoln Health Network.
- Income tax savings if you establish it during your lifetime.
- Possible estate tax savings.
- Partial or complete bypass of capital gains tax when you fund the gift with appreciated property.
Retirement Plan Assets
One frequently overlooked way you can make a charitable contribution is by using qualified retirement plan assets. Retirement plan assets are one of the most taxed assets at death in larger estates, subject to both income tax and estate tax. While current tax law does not allow you to transfer these assets directly to the John C. Lincoln Health Foundation during your lifetime, naming the Foundation as the beneficiary on your account could avoid both income and estate taxes on the account at your death. These benefits include:
- Retain control of assets for life. Should your circumstances or interests change, you can change your beneficiary choice to reflect your new wishes.
- Estate tax savings for estates over a certain size.
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Bequests
When you leave a bequest to John C. Lincoln Health Foundation, you can make a generous gift without reducing your current income. You can specify the programs that you wish your gift to benefit. You also can create special funds in your name or in memory of loved ones. Charitable bequests are normally deductible in full for estate tax purposes. These benefits include:
- You can make charitable gifts through your will that are deductible for estate tax purposes.
- You retain use of the assets during your life.
- You also can set up trusts or gift annuities through your will or revocable trusts.
Bequests should be made to John C. Lincoln Health Foundation, which has been designated as the central development office for the John C. Lincoln Health Network.
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Life Insurance
If you have a life insurance policy that you no longer need, a gift of a life insurance policy can be a way to combine charitable objectives with tax advantages for you. You also could buy a new policy to provide a substantial gift at your death.
You may receive an income tax deduction when you name the John C. Lincoln Health Foundation as an irrevocable beneficiary or owner of a life insurance policy. If you continue to make premium payments after you have made the gift, those payments may also be deductible. The amount of the deduction depends on the type of policy contributed. An irrevocable gift of life insurance may be appropriate when the growth of your assets or the reduced needs of your dependents make the policy unnecessary.
Because the tax laws regarding gifts of life insurance policies are complex, please contact the John C. Lincoln Health Foundation at (602) 870-6306 or by e-mail for more information.
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More information and Detail on Planned Gifts
GiftLegacy for Donors - Tax and income calculators, planned gift examples, GiftLegacy case studies, the Washington update, Social Security and healthcare information. The Washington Update keeps you informed about the latest planning strategies to save income and estate tax. Many case studies show you how other Americans have increased their income, bypassed capital gains and saved income tax.
GiftLaw for Professionals - Concise and useful professional planning info for CPAs, attorneys, life underwriters, financial planners, trust officers and other professionals. View and subscribe to the weekly GiftLaw e-newsletter that updates thousands of professionals each week with the latest charitable tax developments.
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Suggested Phrases for including John C. Lincoln in your Estate Planning
Bequests should be made to John C. Lincoln Health Foundation, 9108 N. 3rd Street, Phoenix, Arizona. The Foundation is a designated IRS 501(c)(3) not-for-profit organization and is an Arizona corporation. It has been designated as the central development office for the John C. Lincoln Health Network and its charitable affiliates, including the Desert Mission.
Specific amounts can be designated in a will or codicil with the phrase:
- [Amount your specify] is to be contributed to the John C. Lincoln Health Foundation at 9108 North Third Street in Phoenix, Arizona to be used for the [Desert Mission, Community Health Center, etc]." You, as the donor, can specify a program or project.
Residual amounts, after other important bequests are directed in one's will, can be designated thusly:
- "The remainder of my estate (including cash, stock, bonds and property) shall be transferred to the John C. Lincoln Health Foundation at 9108 North Third Street in Phoenix, Arizona for the [a specific area of community service, treatment, or patient comfort]."
Percentage designation of assets in a will has become a fair method of distribution during these times of fluctuating values in real estate and on Wall Street. This method insures everyone named in your will receives the proportion you intend:
- "… and 15% of the value of my estate is designated to The John C. Lincoln Health Foundation at 9108 North Third Street in Phoenix, Arizona for the [an area of your choosing]." Note: phrasing assumes the sum of percentages does not exceed 100%.
Please let us know of your intent by calling the John C. Lincoln Health Foundation at (602) 870-6306 or e-mailing us. We would like to thank you and, if you wish, appropriately recognize you as a member of the Lincoln Legacy Society.
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