Estate Planning and Planned Giving

Planned giving is critical to advancing neuroscience research

Build a Charitable Legacy Through Estate Planning and Planned Giving

What is Planned Giving?

Planned giving refers to a type of charitable giving in which a donor makes a commitment to gift assets to a nonprofit organization or charity at some point in the future, often through their estate plan.

Planned giving can take many forms. Legacy gifts can include a bequest in a will or living trust, or a beneficiary designation of an IRA, investment annuity, or life insurance. These gifts can include a portion or percentage of an asset or estate, or they can include a dollar amount or a particular asset.

Other ways to give can include charitable trusts and gifts of real estate or other highly appreciated assets, including stocks, investments, and business interests. There are even two charitable gift planning tools that can provide you with lifetime income: charitable gift annuities and charitable remainder trusts.

Planned giving is a very effective way for nonprofit organizations like Barrow Neurological Foundation to build long-term relationships with donors and secure funding for lifesaving research. It also allows donors to support causes that are important to them in a meaningful way, while also potentially reducing their tax burden.

Including Planned Charitable Gifts in Your Estate Plan

Leaving a legacy gift to Barrow Neurological Foundation through an estate plan, trust, or will is easy, and many donors find great joy in knowing that their assets are going toward an important cause after they no longer need them. Another benefit of making a gift through an estate plan is that your health care needs and other expenses are taken care of before making the gift.

We often are asked the question: “How much is too much to leave to my heirs?” Research has shown that generational wealth is often depleted by the third generation, so it is wise to put parameters in your estate plan to help your heirs manage sudden wealth. This could be as simple as teaching your heirs about the importance of philanthropy by sharing your own story of why you give to Barrow Neurological Foundation. Even if you don’t consider your estate to contain significant wealth, it is still a good idea to teach your heirs how to be financially responsible through a charitable estate gift.

Leaving a Charitable Gift in Your Estate Plan or Will

Here are a few easy ways that you can leave a gift to Barrow Neurological Foundation in your estate plan or will:

1. Make Barrow Neurological Foundation a partial beneficiary of your will or trust. It doesn’t matter whether you have a large estate or a small estate, all gifts—whether it’s 1% of your estate or up to 50% of your estate— make a real difference in advancing research and patient care for devastating neurological diseases.
2. Gift a particular asset or dollar amount to Barrow Neurological Foundation in your estate plan, trust, or will. This will allow you to make a meaningful impact with assets that you no longer need. You also can ensure that all of your health care and other living expenses are addressed before making your gift.
3. Make Barrow Neurological Foundation a contingent beneficiary of your estate plan, trust, or will. If there’s a possibility of you outliving your heirs or beneficiaries, your legacy will still continue on through your support of groundbreaking neurological research at Barrow.
4. Make Barrow Neurological Foundation a partial, full, or contingent beneficiary of your IRA, retirement plan, or investment annuity. Retirement assets and investment annuity growth are subject to Income in Respect to Decedent (IRD) tax, meaning that your beneficiaries will be taxed for your distributions. Since other assets often qualify for estate tax exclusion, it is wise to leave your heirs those assets, which will not be taxed, and gift the taxable assets to charity. This includes IRAs, retirement assets, and the growth of investment annuities.
5. Make Barrow Neurological Foundation the beneficiary of a life insurance policy. Over the years, there have been multiple fluctuations in the estate tax exemption. You may have bought life insurance early on to ensure that your heirs are not subject to a forced sale of assets to pay the estate death tax. However, you may no longer be concerned about the estate tax exemption, or your adult children may be well-off in their own right, leaving them over-insured. By making Barrow Neurological Foundation a full or partial beneficiary of your life insurance policy, you will be utilizing this no-longer-needed asset to make a meaningful impact on patients’ lives.

There are many opportunities for you to leave your legacy through an estate plan, will, trust, or beneficiary designation. We want to support you in creating your legacy with the most tax-efficient assets, so if you have any questions, please do not hesitate to contact Emily Lawson, Senior Director of Philanthropy, at Emily.Lawson@DignityHealth.org or 602.406.1051.

Create a Legacy of Philanthropy with Planned Giving

Planned giving ensure that your charitable giving continues beyond your lifetime. By making a significant contribution to Barrow Neurological Foundation through your estate planning or other long-term financial strategies, you will be leaving a long-lasting legacy of philanthropy that will help patients living with neurological diseases for years to come.

Estate planning is more than just allocating assets, it also includes sharing your unique values with your loved ones and community. Teaching your heirs, friends, and family about your values through your final act is an extremely powerful way to inspire others who may want to create their own legacy in the same way.

Many people want to be remembered long past their last breath, and creating your legacy through a planned gift is a wonderful way to ensure that you will be memorialized in a manner of your choosing. You also will find great joy in waking up every day knowing that you are making a meaningful impact that will last well beyond your years.

How Your Planned Giving Impacts Neurological Research

Planned giving is critical to advancing neurological research and improving the lives of patients and families affected by neurological diseases. These gifts provide long-term funding for ongoing research studies that may lead to new treatments or the next cure for neurological conditions such as Alzheimer’s disease and dementia, Parkinson’s disease and movement disorders, brain cancer, amyotrophic lateral sclerosis (ALS), epilepsy, multiple sclerosis, and more. They also allow for the development of new clinical research programs and initiatives, as well as provide support for the education and training of future leaders in neuroscience.

In addition to providing financial support, planned gifts also build awareness for neurological research by inspiring others, especially younger generations, to get involved and help advance the field.

Whether through direct funding or by inspiring others, planned gifts to Barrow Neurological Foundation will make a lasting impact on the future treatment of neurological diseases.

Barrow Neurological Foundation Planned Giving Options

There are many ways that you can give to Barrow Neurological Foundation while creating a lasting legacy. Here are a few options for your consideration:

1. Bequests: Leave a gift to Barrow Neurological Foundation in your will or trust.
2. Stock Gifts: Donate appreciated investment assets such as stocks, bonds, and equities and save on appreciation taxes, plus get the same tax deduction as a cash gift.
3. Charitable Gift Annuities: Donate assets to Barrow Neurological Foundation that it will invest. In turn, you will receive a fixed-income payment each year for life.
4. Charitable Remainder Trusts: Create a trust that provides income to you or your chosen beneficiaries for a predetermined term and receive tax benefits before the assets are donated to Barrow Neurological Foundation.
5. Life Insurance: You can make Barrow Neurological Foundation a full or partial beneficiary of your life insurance policy by obtaining the necessary forms from your life insurance company.
6. IRA and Retirement Assets: You can name Barrow Neurological Foundation as a beneficiary of a retirement account, or you can give directly from an IRA after the age of 70.5. You also can give all or part of your Required Minimum Distributions (RMDs) directly to Barrow.
7. Real Estate: A gift of property allows you to save on appreciation taxes. Barrow Neurological Foundation can sell the asset tax free and you will receive a full-market-value tax deduction for the gift.
8. Appreciated Assets: Appreciated assets like investments, property, and business interests are a great way to give to Barrow Neurological Foundation and receive valuable tax benefits.
9. Charitable Lead Trusts: You can donate assets to a trust that provides income payments to Barrow Neurological Foundation for a predetermined term, after which the assets are returned to you or your chosen beneficiaries.
10. Donor Advised Funds: Making a gift to Barrow Neurological Foundation through your donor advised fund (DAF) is extremely easy. All you have to do is contact the organization responsible for your DAF, give them the Foundation’s Tax ID Number and address, and then they can make the distribution.

Planned giving is a wonderful way for you to create a lasting legacy and ensure that your charitable intentions are carried out in a meaningful and impactful way. By making a planned gift to Barrow Neurological Foundation, your legacy will live on through groundbreaking, curative research that transforms the lives of patients and families worldwide.