Charitable Gift Planning
Planned GivingFrom time to time our friends have asked how they can make a gift over time or through their estate. We can provide assistance with the following: estate planning, wills and trusts, and life income plans.
If you have any possessions, you have an estate. Possessions include things such as owned homes, cars, insurance policies, furniture, bank accounts, money, and many other things.
Their orderly care during your lifetime is called "financial management." Their disposition after your lifetime is called an "estate settlement." Deciding in advance how to settle your estate is known as "estate planning."
A wise estate plan makes use of carefully drafted legal documents. These documents should state exactly how you want your possessions to be passed on to your spouse, children, other family members, friends, or charitable organizations. These documents should also include the necessary authorization and power to accomplish the goals of the estate plan.
These documents can include your will and a trust. A will is used to pass property onto others when you die. A trust provides a unique arrangement for the management of your assets, during and after your lifetime, for yourself or others.
In return for a gift to a charitable organization, you can arrange a life income for yourself or others, freeing yourself of investment worries, producing substantial tax savings, and perhaps increasing your rate of return on low-yielding assets. Possible plans include a charitable remainder trust, an annuity trust, and a pooled income fund plan. Ultimately, the remainder is distributed to the charitable organization of your choice to support its good work.
With proper planning, a gift to Long Beach Community Medical Center Foundation can be both satisfying and cost-effective. Please call the Foundation at (562) 498-4536 to confidentially discuss which type of gift would be most beneficial to you and your family.
