Planned giving allows donors to make a gift today enabling you to make the difference tomorrow. Helping those in need in your community can lead to unequal personal and emotional fulfillment. There are as many different ways to support the Utah Valley Healthcare Foundation as there are needs for your support.
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A planned gift can be best described as any gift of cash, stock or personal or real property that allows a donor to accomplish his or her philanthropic intent while providing a benefit to the donor or his or her heirs. A planned gift can be an important part of an estate plan, providing an excellent method of reducing taxes. The planned giving program at Utah Valley Healthcare Foundation was established to allow donors to make larger gifts than otherwise possible without undue financial sacrifice. These types of gifts allow you to enjoy the financial benefits of such a gift, along with gift recognition and the knowledge that your gift has made a difference.
The Foundation staff will assist donors wishing to make a planned gift; however, we urge anyone considering this type of gift to seek the counsel of their own legal advisor.
If you wish to make a significant gift, but are concerned about losing income from assets you would give, you may want to consider a deferred gift. Deferred Gifts may be made in trust to Utah Valley Healthcare Foundation while the donated asset is retained by the donor or other beneficiary for life. Deferred gifts can be an important part of an estate plan.
Wills, Bequests and Trusts
Wills and Bequests Including a charitable bequest (cash, securities, real estate or other assets) in your will is a simple way to make a lasting gift to your community and becomes your personal legacy of giving. Most estates have three categories of beneficiaries: heirs, charitable organizations and the government. We encourage you to maximize your gifts to the first two and limit the third. This can be accomplished through careful estate planning.
Charitable Gift Annuities
You can work directly with the Utah Valley Healthcare Foundation to establish a charitable gift annuity, a popular way of giving that combines the benefit of an investment and a gift, and provides life income to the donor (and another recipient if desired - the annuitants).
Charitable Remainder Trusts
You can plan for the future for you and your community. A charitable remainder trust allows you to invest significant assets and receive income for the rest of your life, knowing that whatever remains will benefit your community. It is possible to establish a Charitable Remainder Trust by means of a will and provide income to the beneficiary of your choice. Making a bequest is as simple as adding a codicil (amendment) to your will; please seek the counsel of your own legal advisor to discuss your ideas. We understand that your philanthropic giving must blend with your own financial needs and tax planning. That’s why, with your legal and tax advisors, Utah Valley Healthcare Foundation’s expert staff will help you create a plan that suits your personal circumstances.
Other Types of Planned Gifts
There are a number of vehicles that may work best for you to give a planned gift. Gifts of life insurance or retirement accounts such as 401(k) are popular gifts. You may also wish to sale a piece of property to the Foundation in a bargain sale and receive a charitable tax donation.
Donors who are considering making a planned gift are encouraged to contact the foundation office with their intent early in the process to help ensure we are prepared to accept the gift and that your wishes can be honored.