Planned Giving
Family House is strong today. Help us be strong tomorrow for future families.
Leaving A Legacy of Impact
Help us make a difference for our families by leaving a legacy aligned with your values. At Family House, we provide hope and healing in a safe, comfortable environment. Your planned gift will be left in capable. caring hands. Imagine what we can achieve together with your future support!
Giving Options
Naming Family House as the beneficiary of your retirement plan is a tax-savvy gift.
While 401(k)s, IRAs and other retirement plans are excellent vehicles for accumulating assets for your use during retirement, much to many people’s surprise, they are a far less attractive way to pass an inheritance to loved ones. This is because retirement plan assets are often subject to heavy income and possible estate taxes when they go to a non-charitable beneficiary. These taxes can deplete a significant percentage of your hard-earned savings – leaving less for heirs than you had hoped.
If you would like to include a gift to help patients and families through your estate, consider the tax-smart strategy of naming SECU Family House at UNC Hospitals the beneficiary of retirement plan assets and leaving other less-taxed assets to your heirs. Because of our tax-exempt status, the full value of your retirement plan assets make a difference in the lives of patients and families staying here as guests.
Steps of Gifting Your Retirement Plan
Donating retirement plan assets is easy. And if you need to change or revoke your gift any point during your lifetime, you can. Take these simple steps:
- Contact your retirement plan administrator for a simple change-of-beneficiary form.
- Decide what percent (1 to 100) you would like Family House to receive.
- Name SECU Family House at UNC Hospitals and the gift percentage on the form.
- Return the form to your plan administrator.
- Contact our Development Team (development@secufh.org) at Family House to let us know of your plans.
Designating Family House as the whole beneficiary, a partial beneficiary, or as the owner of a life insurance policy can change lives in the future while giving you a tax deduction now.
Giving through life insurance is one of the simplest ways to make a significant contribution to SECU Family House at UNC Hospitals and establish your legacy of giving.
You can designate Family House as the primary or secondary beneficiary of either 100% or some other percentage of the proceeds from the life insurance policy.
Another approach is for you to transfer to Family House the ownership of the policy. The transfer of the policy is considered a current gift and a charitable tax deduction may be taken, while your continued payment of premiums are each considered charitable contributions, deductible to the fullest extent of the law.
Next Steps for Planned Giving through Life Insurance
- Determine which of the approaches described above that are best for you: designating Family House as the beneficiary of your life insurance policy or transferring policy ownership to Family House.
- Work with your life insurance professionals to formalize your decision.
- Contact our Development Team (development@secufh.org) at Family House regarding your gift. Our goal is to make sure that your gift is used as you intend and we strongly encourage you and/or your estate planning professionals to contact us as you are formulating your gift so we may ensure that proper documentation is in place.
A bequest is a powerful way to share your legacy with generations to come.
One of the easiest ways to make an impact at SECU Family House at UNC Hospitals is to include a charitable bequest in your will or living trust. A bequest allows you to leave a legacy of support for patients and their caregivers without affecting your cash flow today. Eighty percent of all planned gifts are bequests.
With a bequest, you can donate a percentage of your estate – so that your gift will remain proportionate to the size of your estate – or you can give a certain amount of cash, securities, or property. Either way, your gift allows you to retain full control of your assets now while ensuring that Family House will continue to give strength and support to families far into the future.
Another benefit of establishing a bequest is that the assets distributed from your estate or living trust to Family House are exempt from estate tax. A bequest is also revocable; until your will or trust goes into effect, you are free to alter your plans.
Next Steps for Making Your Bequest
- Determine whether you’d like to make a gift of a specific amount or leave percentage of your estate, and whether you would like to direct your gift to a specific programs or leave your gift unrestricted, allowing it to be used for our most pressing needs. While we of course welcome many kinds of gifts, providing an unrestricted gift of cash or highly liquid asset is preferable for Family House as it allows us the flexibility to meet our ever-changing needs.
- Take your bequest language to your estate planning attorney to include in your will or living trust.
- Contact our Development Team (development@secufh.org) at Family House regarding your gift. Our goal is to make sure that your gift is used as you intend and we strongly encourage you and/or you estate planning professionals to contact us as you are formulating your gift so we may ensure that proper documentation is in place.
This option can supplement your income during your retirement years and allow for valuable tax benefits.
If you would like to make gift donation to SECU Family House at UNC Hospitals, supplement your income during your retirement years and receive valuable tax benefits, consider establishing a charitable gift annuity.
You can create a gift annuity with a simple contract between you and SECU Family House at UNC Hospitals. You make a donation (for which you may qualify for a partial income tax deduction) and we, in turn, agree to pay a fixed amount each year for life to you alone or to you and a person you designate. The rate of payment is set at the time of your gift and doesn’t fluctuate with the stock market, interest rate, or inflation. After beneficiaries pass away, the remaining balance is provided to Family House.
Your Benefits
- You may receive greater disposable income through tax savings.
- You may qualify for an income tax charitable deduction for a portion of the gift.
- A portion of your payment is income tax-free.
- After your life time, the remainder portion of your gift will support our mission.
Steps to Make Your Gift
- Determine which asset to donate. You can fund your gift annuity with cash, stocks, bonds, or other assets.
- State who should receive the payments. You can receive payments for life, or you can provide payments for another individual – typically your spouse, but it could also be a parent, adult child, family member, or friend.
- Decide your payment date. Your payments can begin immediately, or you can defer the start of your payments into the future. Deferring your payments can increase your annual payout as well as your income tax charitable deduction.
- Contact our Development Team (development@secufh.org) at Family House to help your determine, with your financial advisors, if a gift annuity is right for you.
If Family House is already in your estate plan or your interested in learning more about joining Planned Giving please contact our Development Team at development@secufh.org or 919-932-8003. Consult an estate planning professional and tax attorning to create your plan. Our Tax Identification Number is #91-2108125.
FAQ
No, there is no minimum gift level at this time.
The dollar amount does not need to be revealed unless the donor wants recognition for that amount at this time. We do ask for copies of percentage of beneficiary forms if possible, but we do not need amounts.
In addition, we prefer to be able to review the language from the documents that are creating the gift to make sure that there is no confusion as to your charitable aims and our ability to deliver on such aims. We are not asking to see all of your will or trust, but we do like to be able to review the particular paragraph or two related to your gift to the Family House. We take the privacy of our donors very seriously and will always strive to protect your privacy and anonymity where requested.
Please complete the Confirmation of Legacy Gift Form and send it to our Development Team via development@secufh.org.
The types accepted are described here with the caveat that our ED and BOD reserve the final decision of acceptance.
Yes.
Yes, it can be either revocable or irrevocable.
In general, we will not accept such a gift. If you wish to donate real estate to Family House upon your death, full ownership should go to the Family House. We will accept a gift of real estate during life where the owner reserves the right to live in the house for the remainder of his or her life (this is often called a “life estate”).
No, your gift may be directed to our Unrestricted Fund. Which allows us the flexibility to apply your gift in the way it is most needed at Family House.
No, there is no minimum age.
If anonymity is coordinated and protected by your estate, Family House does not need to know your identity. If your identity is known to Family House but your estate instructs us to protect your anonymity from the public, we will do so.
We are happy to include survivors as Legacy Family members as long as they are listed on the recognition form.
Words are not enough to show our gratitude for your future support. We would like to recognize your legacy of generosity by honoring you in our Impact Report, inviting you to a donor appreciation event, naming you on our website as a Legacy Family member, and other acts of recognition.
