PLANNED GIVING
Properly constructed, a
planned gift can minimize tax exposure,
provide a significant gift to support the
programs that Henderson Behavioral Health
provides for our community, and increase
current income
as well as the final value of assets your
heirs will inherit.
If you are
interested in minimizing income or estate
taxes and wish to make a charitable gift,
you need to take two steps:
1. Talk
to a member of the development staff to
discuss where you would like to direct your
gift. We can help with the decision-making
process and make recommendations, as needed.
2. Contact
your professional advisor for help. Discuss
your objectives with a professional advisor,
such as your attorney, accountant, or financial
planner. He or she can help you determine
the most advantageous method by which to
make your gift. We can recommend several
expert advisors if you do not have one. 
Bequests - Many individuals who have supported
HBH during their lifetime will include
us in their estate. Provisions are usually
revocable and donors may increase or decrease
the bequest at any time during their life.
These gifts can be either specific dollar
amounts or a percentage of the estate.
Life Insurance or IRA's - Simply by naming HBH as beneficiary
and owner of a policy or IRA (either existing
or new), the donor can make a wonderful
gift that may be significantly greater than
might otherwise be possible. A donor who
irrevocably transfers life insurance or
IRA to us can claim an income tax deduction.
The deduction is limited to 50% of adjusted
gross income with a five-year carryover
period for the excess.
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Charitable Gift Annuity - This is an agreement between
the donor and HBH; in exchange for a gift
of cash, stock, mutual fund shares, or other
assets, we guarantee to pay a fixed income
for life to the donor or a beneficiary the
donor chooses. The income may be immediate
or deferred. HBH receives the assets that
remain after the income beneficiary dies.
Charitable Remainder Trust - A Charitable Remainder Trust
takes property from the donor's estate,
distributes the income to the donor, and
passes the balance of its assets to HBH
upon the beneficiary's death. Thus, property
is removed from the estate and replaced
with a charitable deduction. The donor retains
the income that the trust property produces.
IRS rates and tables determine the charitable
deduction. The property used for this gift
is usually property that would involve a
sizable capital gains tax if sold.
Charitable Lead Trust - A Charitable Lead Trust takes property from the donor's estate,
distributes the income to HBH, and passes
the balance of its assets to the heirs at
the donor's death. Thus, property that produces
or could produce taxable income is removed
from the estate and replaced with a charitable
deduction. The property used for this gift
is usually property that would involve a
sizable capital gains tax if sold and converted
to income producing property.
A charitable trust is often accompanied
by an Irrevocable Life Insurance Trust (ILIT),
which is sometimes referred to as a Wealth
Replacement Trust. The trust buys life insurance
on the donor's life with the heirs as beneficiaries.
Thus, the amount of the donated asset is
replaced to benefit the heirs.
Click
here to review some frequently asked
questions and answers
about planned gifts.
NOTE: Henderson Behavioral Health is not engaged in rendering
legal or tax advisory services. For advice or assistance
on your specific case, the service of an attorney or other estate
planning professional should be obtained.
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