Deferred gifts are those that benefit an individual or an institution at an agreed-upon future date. With careful planning, they can integrate a donor’s charitable gift into his or her overall financial, tax and estate planning objectives.
However, deferred gifts are closely regulated by the law and require special arrangements and tax treatment. We recommend donors consult with their attorney or financial advisor, as well as the INHS Foundation Director, before making a donation.
The most common form of planned giving to the INHS Foundation is through a bequest. Former patients, employees or friends often name INHS as the beneficiary in their will and living trust, granting the Foundation funds to help improve the lives of those it serves.
Bequests may be stated three ways:
- As a percentage of a donor’s estate
- As the residual of the estate
- For a specific dollar amount.
Since a will can be changed, there are no income tax benefits associated with a bequest. However, the donor’s estate is reduced by the amount of the bequest for estate tax purposes at the time of their death.
Drafting a will or living trust is complicated, and should be arranged with an attorney or your personal financial estate planner. INHS Foundation representatives are available to confer with you and your financial advisors to draft a bequest that best meets your needs.