There are numerous ways to support the essential end-of-life work provided by the compassionate professionals of Hospice. Some of these methods are as simple as writing a check, others so complex that they require consultation with experts in several fields. All gifts have an impact on a donor's estate. As such, it is often advisable to consult with your financial and tax advisors when contemplating charitable gifts.

Outright gifts to Hospice may be made by cash, check, VISA, Mastercard or Discover. Gifts may also be made on-line at the Donations/Events tab at the hospicecareinc.org home page.

Non-cash gifts of goods or services that advance the work and mission of Hospice are always welcome and are tax-deductible to the fullest extent allowed by law. Qualified, independent appraisals may be required to ascertain fair market value. Contact Hospice to determine whether your in-kind gift can be put to use in a way that benefits Hospice and gives you satisfaction.

A gift of appreciated securities can yield a number of benefits to the donor who wants to contribute to the Hospice mission. First, the gift is credited at full market value and can be deducted from income tax up to the 30% adjusted gross income level (with five-year carryover provision). Second, the donor pays no capital gains tax on the difference between the equity's cost basis and its full market value. Securities include stocks, bonds, savings bonds, restricted stock, closely-held stock and mutual funds.

The value of a gift of securities is established by using the mean of the high and low stock quotations on the day that the transfer to Hospice is completed. Hospice's investment manager and broker is Bill Locke of M. Griffith Locke. For stock transfer instructions, contact the Development Office at (315) 735-6484 or 1-800-317-5661.

The least complicated of all estate planning vehicles, a bequest via will is an attractive option for donors wishing to ensure that their charitable legacy is realized. The flexibility of this option allows donors to create a plan that provides the comfort and confidence that all beneficiaries will be provided for in accordance with the donors' wishes and the beneficiaries' needs. Options include: 1) a specific bequest amount or a specific item or items; 2) a bequest that gifts a percentage of the estate; 3) a percentage or portion of the estate after other specific bequests have been satisfied; 4) a contingent bequest that allows Hospice to receive a distribution if named beneficiaries do not survive the donor or if other primary conditions cannot be met; and 5) a residual bequest that distributes that residue that remains when all other specific and general bequests have been satisfied. A donor may also choose to provide for the funding of a charitable trust in his/her will.

Real estate can be an attractive option for a person considering a gift to Hospice. Gifts of a home, farm, vacation property, condominium, business property, undeveloped land or other real estate are possible options. Time share interests are another possibility. Life estate assignments enable a donor to enjoy the real estate during his/her life, then transferring the property (must be a residence or farm) to Hospice in the estate settlement process. The donor is entitled to a partial income tax deduction and reduced estate taxes. Life estate arrangements are irrevocable, and a donor cannot draw on the property's equity once the gift has been made.

Another real estate option is the bargain sale. Part sale and part gift, the donor who would like some cash from the real estate transaction sells the property at a discount to Hospice. Hospice receives the difference between the sale price and the cash settlement with the donor, and the donor also receives an income tax deduction for the gift amount, subject to deductibility limits. As you can see, real estate does afford donors the opportunity to be flexible and creative. Yet another example is a gift of an undivided fractional interest in a piece of property. This option may be most desirable when selling real estate with capital gains. Your gift will generate a charitable income tax deduction that will offset a portion of the gains.

A flip unitrust is a novel gift option for illiquid real estate. In this scenario, a donor funds a trust with real estate. The unitrust features (income payment, etc.) are not triggered until the real estate has been sold and the proceeds have been used to acquire income-producing investments. Tax benefits to the donor include avoidance of capital gains (if any) on the sale of the property, income tax deduction for the value of the remainder interest and reduced estate tax by removing the property from the estate. In addition the donor also eliminates the burdens of property taxes and maintenance costs.

Art, jewelry, rare books, vintage automobiles, closely-held stock and rare coins and stamps are examples of tangible personal property that may be a donor's most appropriate vehicle for gift giving. Though Hospice truly appreciates any generosity that is extended to it, any gift that is not immediately negotiable may require due diligence in the form of establishing marketability, fair market value and, in the case of real estate, environmental assessment, among other tests prior to gift acceptance.

Many charitably-inclined individuals have life insurance policies that they purchased for purposes that no longer exist. (For example, parents may have purchased a policy years ago to fund college educations for their children in the event of their premature death. Once those children are grown and have successful lives of their own, the original intent is less pertinent.) Naming Hospice as the beneficiary of a life insurance policy can be an advantageous way for a donor to support the good work of Hospice. Alternatively, a donor can name Hospice as the owner of a policy and then make tax-deductible gifts to Hospice to cover premium payments.

Some donors who are reluctant to reduce the size of their estates use the vehicle of life insurance to "replace" the value of an income-producing gift. In the least complicated example, a donor creates a charitable remainder trust which generates income payable to the donor which, in turn, is used to pay the premiums on a life insurance policy with a value equal to the amount of the gift that funded the trust.

Naming a not-for-profit as the beneficiary of an IRA or other qualified retirement plan assets is an increasingly popular way in which to provide for Hospice and/or another favorite charity. If assets from these plans are passed to heirs, they can be heavily taxed. Removing these assets from your estate reduces estate taxes.

Charitable gift annuities can provide you and your spouse income for the rest of your lives and then provide Hospice with a gift of the remaining balance of the annuity. Funded with cash or with property, you receive a current year income tax deduction for the estimated remainder value. Depending on the method of funding, capital gains, income and estate taxes can be eliminated or reduced. If funded by a stock with a low dividend yield or by a bond with a low yield, your income stream may actually increase!

Trusts are legal documents that define the way in which trust income and principal distributions are administered. In the right circumstances, a charitable remainder trust can increase a donor's income (from an underperforming asset), reduce taxes and provide a valuable income stream. Trusts provide donors with greater flexibility in defining the terms than annuities do, and generally are more appropriate vehicles for larger charitable gifts.

A charitable lead trust enables a donor to make a significant gift to Hospice and provide a substantial inheritance to their children. A charitable lead trust provides an annual income payment to Hospice. Upon the trust's termination, the principal reverts to the heirs designated in the language of the trust. Governed by complex regulations, donors select this gifting option when they want to accelerate income tax charitable deductions or pass property to heirs at a reduced transfer tax cost, among other reasons.