Estate Planning

To obtain a greater tax benefit, you might consider donating stock or mutual funds, or including 3HC in your will. You have complete control over how much you would like to donate, as well as the hospice programs that will benefit from your gift. Also, always consult your attorney for legal advice during your estate planning process.

1. Wills and Bequests

Besides the tax benefits of foregoing, or drastically lowering, inheritance taxes, bequesting funds to a charitable organization of your choice enables you to clearly express your philanthropic wishes to family and friends. There are some key guidelines to remember when making a bequest – most importantly, always remember to meet your personal and family obligations first. The following are possible steps that can be taken:

  • Contact your attorney for advice about establishing or amending your will to include the bequest.
  • Name Home Health and Hospice Care, Inc., as the recipient of the bequest.
  • Include instructions, if you would like the gift designated for a special program, such as: Kitty Askins Hospice Center, the Butterfly Wings Program, Wings Camp for Grieving Children, Charity Care, or Volunteer Programs.
  • Indicate the dollar value, or the total percentage, of your estate for your gift, as well as naming any specific belongings or real estate to be distributed to 3HC.

2. Retirement Planning

Individual Retirement Accounts (IRAs) can be taxed up to 70%, if passed directly to your heirs – by designating 3HC as your beneficiary on your plans, inheritance taxes are greatly reduced. Contact your Retirement Plan Administrator and simply name Home Health and Hospice Care, Inc., as your beneficiary.

3. Life Insurance

Donations of life insurance are a strategic means of benefiting charitable organizations in your estate planning, as probate is avoided, passing funds directly to 3HC without delay.

4. Stocks and Mutual Funds

By donating stocks and mutual funds, you avoid paying capital gains taxes on the appreciation. In addition, the security’s full market value at the time of the gift is completely deductible. (Please note that you must have held the security for twelve months or longer before making the gift to qualify for tax benefits.)

5. Gift of Your Residence

Your home may be given to Hospice of 3HC now, and you may retain lifetime living-rights, in which you remain in your home for as long as you and your spouse desire. This allows you to claim an immediate income-tax deduction.

To discuss estate planning or other donation opportunities, contact:

April Brantham
Director of Community Development
919-735-1387, ext. 1072 abrantham@3hc.org