By including Atrium Medical Center Foundation, formerly Mi-Miami Healthcare Foundation, in your will or estate plans, you leave a legacy that touches future generations with the gift of quality health care.
Many forms of planned giving also offer tax advantages for the donor. Our professionals are happy to work with you and your advisors to help you choose the planned giving options that work best for you.
Some of those options are described below. To learn more, please contact us:
When you notify the Foundation of your planned gift, you become a member of the Heritage Society, receiving valuable benefits and recognition during your lifetime.
In addition to having your name permanently inscribed on a beautiful glass chime in the donor recognition feature at Atrium Medical Center, Heritage Society members receive invitations to exclusive events and educational programs.
Some benefactors choose to name the Foundation in their wills. For an existing will, you can make a bequest through a simple amendment called a codicil. Here is the suggested legal language to use in your will for making a bequest to the Foundation:
“I give the sum of $____ or ____% of the remainder of my estate to Atrium Medical Center Foundation of Middletown, Ohio, or its lawful successor.”
To make a direct bequest to the Foundation for a specific purpose, here is suggested legal language:
“I give the sum of $____ or ____% of the remainder of my estate to Atrium Medical Center Foundation of Middletown, Ohio, or its lawful successor, to be used by that organization for the following purposes: (identify specific purpose).”
Please confirm with the Foundation when making this designation to ensure your charitable intent is fulfilled.
Charitable Gift Annuities
A charitable gift annuity benefits both you and Atrium Medical Center. When you transfer cash, securities, or other assets, the Foundation agrees to pay you and/or your spouse a fixed amount of money annually.
Only part of the annual payment is reported as ordinary income during a portion of the lifetime payments; the remaining amount is tax free. You will also receive a charitable income tax deduction for part of the amount contributed the year you create the annuity.
Charitable Remainder Trusts
With this method of giving, a donor places in a trust a sum of cash, securities, or other property, while keeping a specified income from the trust. When the trust ends, the property in it passes to the Foundation, much as if you had left the property to the Foundation in a will.
However, unlike a standard bequest, a charitable remainder trust offers the added advantages of increased income for your loved ones, savings on capital gains and estate taxes, and avoidance of the gift tax.
Gifts of Life Insurance
Another option is to name the Foundation as beneficiary of a life insurance policy and continue to pay the annual premiums. This entitles you to a substantial charitable deduction from income taxes in the year the gift is made, plus an annual tax deduction for the premiums you pay.
After the policy holder’s death, the full value of your policy will be used by the Foundation to enhance health care services in our communities.
Content Updated: May 4, 2016