The person receiving the gift annuity payments. The price a willing buyer and willing seller can agree on The growth in value of an asset like stock or real estate since the original purchase The original value of an asset, such as stock, before its appreciation or depreciation Tax on gifts generally paid by the person making the gift rather than the recipient They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes. "I,, of, give, devise and bequeath to Presbyterian Healthcare Foundation for its unrestricted use and purpose."Ī revocable living trust is set up during your lifetime and can be revoked at any time before death. Privacy Policy | Cookie PolicyĪ charitable bequest is one or two sentences in your will or living trust that leave to Presbyterian Healthcare Foundation a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.Īn individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan South Dakota residents: Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance. Oklahoma residents: A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. California residents: Annuities are subject to regulation by the State of California. State law may further impact your individual results. References to tax rates include federal taxes only and are subject to change. Figures cited in any examples are for illustrative purposes only. For such advice, please consult an attorney or tax advisor. The information on this website is not intended as legal or tax advice. Information contained herein was accurate at the time of posting. Any combination of lifetime and estate gifts totaling $50,000 or more qualifies you and your spouse for the program, which provides special amenities and 24/7 assistance. To help even more employees, Revathi and her husband, Russ, are directing additional support-a portion of the proceeds from a trust-to their endowed fund after their time.īy virtue of their generous lifetime support and estate commitment, Revathi and Russ are members of Presbyterian Healthcare Foundation's Luminary Circle program. Because retirement plan assets are subject to income tax, they make ideal charitable gifts. Revathi is directing proceeds from an IRA over a number of years to create her endowed fund. In 2013, 76 employees received financial support totaling $85,492 thanks to contributions from Revathi and Presbyterian staff. A percentage of the annual income from her fund will support the Presbyterian Employee Care Fund program, which helps employees facing an unexpected or catastrophic financial hardship because of environmental disasters, such as a fire or flood, and other circumstances. She created an endowed, or permanent, fund to support Presbyterian employees in difficult times. She calls this "my time to give back" out of gratitude for a meaningful career. Revathi's devotion to Presbyterian has motivated her to make charitable gifts in retirement and beyond. Revathi A-Davidson rose through the ranks at Presbyterian Healthcare Services, retiring as a senior leader in 2013 after a 34-year career. Revathi A-Davidson supports Presbyterian through an endowed fund out of gratitude.
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