The vision of CVHN is the creation and expansion of a service area in which all children have increased access to healthcare, without that care resulting in undue financial and emotional strain on their families. Ultimately, CVHN is working to see that children are health and happy and have every opportunity to reach their full potential. In order to continue to strive towards our mission and vision, we need to find a way to provide a legacy of support.
If you have interest in discovering how you can use Estate Planning, Donor Advised Funds and various Trust structures to leave a permanent legacy of giving and support for CVHN we can provide the information you need. Don David, a local Financial Advisor has agreed to provide free consultations on how you can Leave a Legacy for CVHN. Please call the CVHN office at 850.622.3200. x 102 to arrange for your appointment.
CVHN Legacy Giving Options
- Appreciated Securities – By giving stocks, bonds or mutual funds that have appreciated in value to CVHN, you are able to avoid the capital gains taxes and you should be able to take a charitable deduction for the value of the securities on date of gift.
- Real Estate – The transfer of property to CVHN can provide a convenient way of moving the property without having to sell it. The property will be appraised at date of transfer, and this value will be used for the potential charitable deduction for the donor. If the property has appreciated in value, the donor can also avoid the capital gain taxes. Arrangements must be made in advance, with considerations for maintenance, repairs, tenant matters, cost of transfer and clear title.
- Charitable Gift Annuity – Under this arrangement the donor purchases a Gift Annuity with a specific amount of money. The Gift Annuity then provides a guaranteed monthly income stream to the donor or the donor and spouse, for the rest of their lives. The remaining balance in the Gift Annuity is paid to CVHN upon the donor passing, or the second to pass, if the spousal option is selected. The donor should consult their CPA regarding the potential charitable gift tax deduction and potential favorable tax treatment on a portion of the annuity income.
- Charitable Remainder Trust – An asset that produces an income stream can be placed in a CRT which is an irrevocable tax-exempt trust. The income from the trust asset is paid to the donor for the rest of their life. Upon the donor’s passing, the asset is transferred to CVHN. This allows the owner of an asset to continue to benefit from the income provided by that asset for the rest of their life, and provide for the charity in advance through the trust arrangement. The CRT provides a partial charitable income tax deduction, reduces the size of the estate, and reduces estate taxes. In some cases, it helps to diversify sources of retirement income.
- Charitable Lead Trust – A CLT allows for the income stream from an income producing asset to be provided to CVHN through an irrevocable trust. Upon the donor’s passing, the asset is transferred to the beneficiaries designated in the trust. The allows the owner of an asset to control the ultimate beneficiaries of the asset, but provide an income stream to CVHN for the remainder of their life. The benefits of the CLT are that is reduces the size of the estate and it passes assets to heirs with little to no taxes.
- Bequests by Will – Naming cash, securities or other assets to be donated to CVHN through a Will, has the benefit of providing for the owner’s wishes while not incurring any cost to establish the plan. The control of the asset and the use of any income generated remains with the owner. A Will can be changed at any time, and the owner can give all or a portion of the asset to CVHN. Any asset that passes to CVHN in this manner, should be exempt from federal taxes for CVHN.
- Retirement Account Beneficiary – Each owner of a retirement account can designate the beneficiary or multiple beneficiaries they desire. CVHN can be named as a sole or partial beneficiary on a retirement account. Funds designated to CVHN in this manner will pass tax free to CVHN. This is a great estate planning tool, that allows the support of CVHN, while passing on other lower taxed assets to heirs.
- Life Insurance Beneficiary – The beneficiary on a Life Insurance Policy can be any person or charity the owner wishes to provide for. The policy can have sole or multiple beneficiaries, or which one can be CVHN. The beneficiary can be changed on an existing policy, or a new policy specifically originated to benefit CVHN can be used. A Single Premium Life Insurance Policy is an excellent way to set aside a specific amount of money to support CVHN, but the insurance proceeds amount is much greater than the initial amount invested in the policy, Also, there are no ongoing premiums since the policy is fully paid at inception.
- Donor Advised Fund – A Donor Advised Fund allows a person to make a charitable donation to the DAF, but then distribute the donations over time to fulfill their charitable objectives. They maintain control of the money, and distribute it as desired to one or more charities. They could use a DAF to establish a sustaining gift to CVHN, or fund specific needs over time. The money within the DAF remains in the control of the donor, and they select the investment options.
You can view more information in the documents below (just click on the links to open) and thank you in advance for all you are doing to help CVHN.