What is Planned Giving
Planned gifts include bequests in wills or trusts, gifts of annuities, life insurance or other means. A planned gift is usually made from assets accumulated during one’s lifetime that transfer at the donor's death. Although planned giving may involve financial or estate planning, it is not only for the wealthy. No gift is too small!
What are the Benefits of Giving?
Giving your money to Hospice (as well as giving your volunteer time or giving goods) is one important way you can impact the quality of life in a community and be of service to your neighbors. A planned gift is a meaningful way to make an investment in the future of Talbot Hospice. There are also significant income tax and estate tax advantages to planned giving.
Examples of Planned Gifts
Bequests
You can name Talbot Hospice as a beneficiary in your will or trust agreement. Your bequest might be an outright gift of cash, a percentage of your estate, mutual funds, stocks, real estate or personal property. The advantage of leaving a gift to Talbot Hospice in your estate planning documents is that it allows you to make a contribution without sacrificing your resources during your lifetime, and can reduce or eliminate taxes imposed on your estate.
Gifts of Life Insurance
Talbot Hospice can be named as a beneficiary or owner of a life insurance policy. Making a gift of life insurance enables you to arrange a future gift to Talbot Hospice without financial impact during your lifetime. Charitable tax deductions may also apply to these gifts.
Gifts of Appreciated Real Estate or Securities
Gifts of appreciated real estate or securities allow the donor to avoid capital gains on the sale of the assets. A donor can transfer appreciated real estate or securities in-kind to Hospice and Hospice can then sell the assets without having to pay taxes on the gain because it is a qualified charity.
Charitable Trusts
A trust is a special type of “holding” device for assets. Basically, you can assign a certain amount of your assets to the charitable trust. The trust “holds” them and pays out the income for those assets—interest or dividends, for example, according to your instructions. Charitable trusts enable you to make a sizeable contribution to Talbot Hospice while receiving significant tax deductions and also retaining an income stream from the Trust.
Gift Annuities
Talbot Hospice is pleased to partner with the Mid-Shore Community Foundation (MSCF) which is licensed by the State of Maryland to offer Charitable Gift Annuities (CGA). MSCF will provide the annuity to clients who wish to make Talbot Hospice the designated charity for their annuity. When you purchase a Charitable Gift Annuity of at least $10,000 from MSCF (minimum age 55), MSCF will pay you income for the rest of your life, based on tables created by the American Council on Gift Annuities. You will also earn a tax deduction at the time of your gift, and a portion of every payment that you receive will be tax free for approximately the first ten years of the annuity.
We Invite You to Join the Margaret B. Ferree Legacy Society
The Margaret B. Ferree Legacy Society is proud to recognize donors who have committed to making a planned gift to Talbot Hospice. The Ferree Legacy Society members will help assure the future of Talbot Hospice and serve as an inspiration to others in our community. The purpose of the Legacy Society is to encourage, support and celebrate these gifts which ensure that the gift of Hospice care will be available for generations to come. With the over-65 population in Talbot County at nearly 27.9% (2016 Census) and growing, many more people will require hospice services of Talbot Hospice. Planning for our future is more important than ever before.
For 44 years until her death in 2011, Margaret B. Ferree was the embodiment of stewardship and generosity in the Mid-Shore. She was an early advocate for the Hospice concept of care and served on the board of Talbot Hospice for repeated terms for more than two decades. Her generous philanthropy included helping to build the first Hospice House, opened in 1998, and other initiatives to advance Hospice services to the community. She continued to support and advise Talbot Hospice until the end of her life. Her final legacy was a generous gift through her estate.
Become a Member
The Margaret B. Ferree Legacy Society honors those people who have designated planned gifts to Talbot Hospice. You are invited to become a member by indicating your intention to remember Talbot Hospice in your estate plans. Please click here for a Legacy Society Enrollment Form. With your permission, you will be listed as a member of the Legacy Society. Each year the list will be published in the Annual Report and you will be invited to a special appreciation event to celebrate your philanthropy. If you have questions, contact Wes Williams, Director of Development, 410-822-6681, wwilliams@talbothospice.org.
Talbot Hospice Tax ID: 52-1227747
Tax Status: 501(c)(3)
