PLANNED GIVING

When you include Redfield Community Memorial Hospital Foundation in your estate plan, you are leaving a legacy that is linked to sustained quality healthcare for our rural communities.

Thank you for helping us in advancing rural healthcare and transforming lives!

Learn More About Legacy Giving

With planned giving, you can provide long-lasting support for Redfield Community Memorial Hospital and Clinic Foundation while enjoying financial benefits for yourself.

NOTE - It is recommended that donors who are considering planned giving consult with a certified financial planner and/or qualified tax accountant professional.

THE PRIMARY TYPES OF PLANNED GIFTS

DEFERRED GIFTS OF CASH OR OTHER ASSETS

CHARITABLE LEAD TRUSTS

retained life estate donation to redfield cmhc foundation

RETAINED LIFE ESTATES

DEFERRED PLANNED GIFTS:

These types of planned gifts are ‘deferred’ because Redfield Community Memorial Hospital and Clinic Foundation Inc. only receives them after the donor passes. Setting up a planned deferred gift is relatively straightforward, usually only requiring the donor to name Redfield CMHC Foundation Inc. as the beneficiary for a portion of their estate or retirement accounts.

BEQUESTS

Bequests are one of the simplest, most impactful, and most popular ways to make a planned gift. Bequests are a great option for everyone as they don't cost a donor anything during their lifetime. To make a charitable bequest, a donor allocates a portion of their estate to Redfield Community Memorial Hospital and Clinic Foundation Inc. in their legal will. There are typically three different ways to allocate a planned gift:

cash bequest to redfield cmhc foundation

A Specific Cash Amount

Example: A donor designates that Redfield CMHC Foundation will receive $10,000.

A Percentage Of Total Estate

Example: 10% of an estate worth 1 million would result in $100,000 being donated to Redfield CMHC Foundation.

Remaining Value Of Estate

Example: After all other bequests have been paid, Redfield CMHC Foundation would receiving the remaining value of the estate.

RETIREMENT PLANS AND LIFE INSURANCE

Donors can name Redfield Community Memorial Hospital and Clinic Foundation Inc. as the beneficiary of their life insurance policies or unused retirement assets. Because these gifts are often larger than what a donor could give in their lifetimes, they can provide significant support to Redfield CMHC Foundation Inc. These types of planned gifts are a good option for donors who have paid-up policies or retirement accounts that they won’t use. If a donor has a large estate, gifting retirement accounts and life insurance policies can help their heirs avoid income and estate taxes. Retirement plans that can be considered as a deferred donation include:

IRAs

401(k)s

403(b)s

deferred 403(b) donation to redfield cmhc foundation

PENSIONS

CHARITABLE LEAD TRUSTS:

When donors make a gift through a charitable lead trust, Redfield Community Memorial Hospital and Clinic Foundation Inc. gets a fixed income stream. This type of trust is fixed to a specific term length or the donor’s lifetime. When the term ends, the assets return to the donor or their beneficiaries instead of Redfield CMHC Foundation.

Lead trusts are an excellent way for donors to ensure that Redfield CMHC Foundation has diverse funding channels and guarantee the Foundation has a set amount coming in each year. For donors, charitable lead trusts can reduce estate taxes, while still transferring wealth to their heirs. Because the primary benefit is reducing estate taxes, these planned gifts are best for wealthy donors with significant estates.

RETAINED LIFE ESTATES:

With retained life estates, a donor transfers a property deed or title to Redfield Community Memorial Hospital and Clinic Foundation Inc. while retaining the right to use the property. Unlike a charitable lead trust where the asset returns to the donor, retained life estates belong to Redfield CMHC Foundation after the set term is up. At that point, Redfield CMHC Foundation can sell or keep the property for its own use.

This type of planned gift is great for donors who want to simplify their estate settlement process and reduce estate taxes. Like most planned gifts, they can also receive an income tax deduction for the property's value.