Future Gifts

Bequests

Making a Bequest to The Villages® Regional Hospital Auxiliary Foundation is a simple way to leave a lasting legacy.

The Villages® Regional Hospital (TVRH), through the Auxiliary Foundation continues to be the recipient of Bequests, or gifts by a Last Will and Testament, from thoughtful people who wished to provide for the support and development of TVRH through their estates. Their bequests have often been the continuation of the support they had provided throughout their lives, and TVRH is profoundly grateful for this. With some basic planning, you can also leave a lasting impact on the quality of regional health care for future generations.

You may make a gift of cash, securities, real estate or other assets by providing in your last will and testament for a bequest to TVRH. Your gift may be a specific bequest of a designated sum or asset, or it may be a percentage of your residuary estate. If you are planning to leave a bequest to TVRH in your Last Will and Testament, please use “The Villages® Regional Hospital Auxiliary Foundation”. The Benefits of a BequestThe value of your bequest to TVRH Auxiliary Foundation is fully deductible for tax purposes. You may also establish an income-producing planned gift for the benefit of others through your last will and testament, thereby reducing your taxable estate. A bequest, whether outright or to fund a planned gift, can be a useful and advantageous addition to your estate plan.

Communicate Your WishesIf you have provided for or plan on providing for TVRH Auxiliary Foundation in your estate plans but have not previously notified the hospital of your intentions, please contact The Villages® Regional Hospital Auxiliary Foundation at 352-751-8871. Sharing your plans with us allows us to express our gratitude to you during your lifetime, ensures that your wishes will be met, and also assists TVRH’s long term planning efforts.

PLANNED GIVING

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Ways to Give

Gifts That Provide IncomePlanned gifts allow you to retain some aspect of the asset or assets you use to make a gift, such as the right to receive income. There are many types of life income gifts, including Charitable Gift Annuities and Charitable Remainder Trusts. Income producing planned gifts can enhance your estate by enabling you to increase your income, diversify your holdings, reduce your taxes, and avoid the cost of probate. You can also be relieved of capital gains tax when appreciated property is used to fund gifts of this kind.

Charitable Gift AnnuityA Charitable Gift Annuity may appeal to you if you are interested in making a gift to The Villages® Regional Hospital Auxiliary Foundation and would like the dependability of a fixed income. In exchange for a gift of $10,000 or more in cash or securities, your financial advisor and attorney can identify a plan that will provide a fixed guaranteed income to you and/or your spouse for life.

Charitable Remainder TrustA Charitable Remainder Trust is another way to plan for your future and that of The Villages® Regional Hospital Auxiliary Foundation. A gift of $100,000 or more in cash, securities or real estate allows you, through your financial planner and attorney, to establish a trust that will make variable payments to you and other income beneficiaries, if you wish, for life. Payments from a Charitable Remainder Trust have the potential to increase over time and can serve as a useful hedge against inflation.

Annuity TrustIf you are 55 or older, an annuity trust can be established by working with your financial planner or advisor to create an account that names The Villages® Regional Hospital Auxiliary Foundation as beneficiary. The trust provides you with an annual fixed income amount. These fixed payments continue for your life and the lives of any other beneficiaries. Upon the the death of the last surviving beneficiary, the assets in the trust pass to The Villages® Regional Hospital Auxiliary Foundation.

UnitrustA charitable remainder unitrust is similar to an annuity trust but is more flexible and offers potentially higher income possibilities. If you are considering a gift of real estate, a unitrust may be an effective way to generate your flow of income from the property. This vehicle can be an excellent hedge against inflation. Because the income payments to you are tied to the changing value of the trust assets, your payments will fluctuate. As the value of the trust assets grows over the years, your income payments will increase.

Term Trusts: Income for a Specified Term of YearsA term trust may take the form of an annuity trust or a unitrust with the same advantages as a life- income trust. If you use appreciated property to fund the trust, you avoid capital gains tax liability on the transaction, the beneficiary’s income may be taxed at ordinary and capital gains rates, and some income may be tax- free. As a donor, you receive a charitable deduction based on the value of the property given, the payout rate, and the term of years. Recipients of the income can be anyone designated by the donor.

PLANNED GIVING

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Many Americans hold a significant percentage of their wealth in their retirement plan accounts, such as a 401 (k) plan or IRA. The assets in these accounts grow tax free over time but have significant built in tax liability. Accordingly, a large percentage of the assets in the accounts will be lost to tax if the account is left to someone other than a spouse. However, using these assets for charitable gifts at death can be advantageous for tax purposes.

Income tax is triggered when the assets are taken out of a retirement account either when the account owner makes a withdrawal during his or her lifetime, is subject to Required Minimum Distributions, or when the account is distributed upon the account owner’s death. Currently the combination of federal estate and income taxes on a retirement account can exceed 64 percent.

A possible scenario would be if an account owner named his or her child as the beneficiary of a retirement account worth $1000. After payment of federal income taxes the son or daughter may receive only $300. The federal government would receive 70% of the parent’s account. It the account owner designated The Villages® Regional Hospital Auxiliary Foundation as the beneficiary of his or her retirement account, the estate would receive a charitable deduction for the entire amount , which will leave a larger balance of the estate for the donor’s other intentions. Further, because the TVRH Auxiliary Foundation is a tax-exempt charity, it will not have to pay income tax on the distribution.

You can name TVRH Auxiliary Foundation as beneficiary of part or all of your retirement account simply by requesting a form from the plan’s custodian. If you have already taken steps to name TVRH Auxiliary Foundation as a beneficiary of a retirement account, we encourage you to let us know.

Future GiftsPLANNED GIVING

Gifts of Retirement Plan Assets

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Gifts of Real Estate

When you consider making a charitable gift, you have many options as to what you contribute. When making the choice, you should be aware of the special incentives federal law has in place to encourage certain forms of private philanthropy, especially gifts of real estate.

Benefits may include:Reduced estate and income taxesAvoidance of capital gains taxesFinancial security for loved onesIncreased lifetime incomeContinued use of the contributed property during your life

A gift of real estate to The Villages® Regional Hospital Auxiliary Foundation is a unique way to provide a lasting benefit. It is also a convenient way for you to enjoy a charitable deduction based on the current fair market value of your property and to reduce the size and complexity of your estate. Because a gift of real estate will usually be sold soon after it is gifted, the real estate must be free of debt and must be readily marketable.

Not only can real estate be used to make outright gifts, it can also be used to make future gifts to TVRH Auxiliary Foundation. For example, should you wish to give a remainder interest in a piece of real estate now but still desire to live in or continue to vacation in the property for the rest of your life, you may do so. This is known as a retained life estate. On the other hand, if you have need of current income, you may identify a piece of real estate that you no longer wish to use to fund a trust which will provide valuable financial support to you and your family for years to come.

PLANNED GIVING

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THE VILLAGES is a federally registered trademark of Holding Company of The Villages, Inc. and is used under license.The Villages® Regional Hospital is a part of