Sherman Hospital Planned Giving Program. You can leave a legacy gift to Sherman Hospital through a simple bequest in your will or by naming the hospital as a beneficiary of your life insurance policy or qualified retirement plan. You can also arrange a tax-wise gift that will provide lifetime income for your loved ones and yourself, or that will pass assets to heirs at reduced tax. Following are some options available to you:

Make a Legacy Gift through a Beneficiary Designation

Life Insurance: You can make a significant future gift to Sherman Hospital by donating all or a portion of the proceeds of a life insurance policy that is no longer needed for family protection. If you are planning to name Sherman Hospital as the beneficiary of an entire policy, you should consider transferring the policy ownership to the hospital to enable you to receive an immediate income tax deduction for the current value of the policy, as well as income tax deductions for future premium payments.

Retirement Plan Assets: Another simple way to make a future gift to Sherman is to name the hospital as beneficiary of all of a portion of a qualified retirement plan. To do this, fill out a "Change of Beneficiary" form provided by the plan administrator. The gift can then pass to the hospital without being subject to estate and income taxes.

Receive Income by Establishing a Charitable Remainder Trust

Charitable Remainder Trusts are individually structured gift arrangements that can make payments to you and/or others for your lifetime(s) or a term of years. Upon the termination of the trust, the remainder of the trust principal becomes available to the hospital. You can receive either fixed or variable income, or establish a trust that will initially minimize income payments and build principal, allowing for higher income payments at retirement. Charitable Remainder Trusts entitle you to an income tax deduction for part of your gift, and you may bypass capital gains tax if you fund your trust with appreciated assets.

Establish a Charitable Lead Trust

You can transfer a portion of your estate to your children, grandchildren, or other heirs with reduced gift or estate taxes through a Charitable Lead Trust, established now through your will or living trust. The Trust would make the payments to Sherman Hospital for your lifetime, or a term of years, after which the principal would be distributed to your heirs. A Charitable Lead Trust is a sophisticated estate-planning vehicle which can enable you to meet both your charitable and family goals.