Types of Gifts

 
Charitable Trusts | Real Estate | Bequests
Charitable Gift Annuity
| Life Insurance | Retirement Plans


Charitable Trusts

“We made Saratoga Hospital part of our long-term philanthropy through a Charitable Remainder Trust. We use the income from the trust now, and the remainder will support the Hospital endowment after we’re gone. We believe that a first-rate hospital is the best legacy to give to future Saratogians.

Charitable trusts do not have to be complicated. You take some assets, set them up in trust, receive the annual payout during your lifetime—and perhaps the lifetime of other loved ones—and your legacy is perpetuated when the Hospital receives the remainder upon your death. It’s really that simple."

—Marcia and Jerry MacDonald 


Charitable trusts enable you to make a significant gift to the Hospital and to benefit from considerable tax savings. These flexible giving vehicles allow you to name multiple beneficiaries and charitable remainders. Once you establish a charitable trust, the decision is irrevocable.

We invite you to speak with us about the many different ways you can support Saratoga Hospital through a charitable trust.

Charitable Remainder Unitrust: You receive income now (paid at a variable rate) and make a generous gift to Saratoga Hospital later.

  • You transfer cash, securities, or property to a trust that is managed by a trustee of your choice.*
  • You receive annual payments for life or for a specified number of years.
  • Payments are based on a percentage of the value of the trust, which is reassessed every year.
  • You receive an immediate tax deduction for a portion of the value of your gift.
  • If you use appreciated property to establish the trust, you also avoid capital gains taxes.
  • You can make additional contributions to the trust—and take additional income tax deductions.
  • After your death, or at the end of the specified term of years, remaining trust assets become part of the Hospital's endowment and benefit our community for generations to come.
Charitable Remainder Annuity Trust:  You receive income now (paid at a guaranteed fixed rate) and make a generous gift to Saratoga Hospital later. Because it provides a predictable stream of current income, this charitable giving vehicle is often an attractive addition to a fixed-income portfolio. This type of trust also allows you to name multiple beneficiaries and charitable remainders.

    • You transfer cash, securities, or property to a trust that is managed by a trustee of your choice.*
    • You, or a beneficiary of your choice, receive fixed annual payments for life or a specified number of years.
    • You receive an immediate income tax deduction. 
    • If you use appreciated property to establish the trust, you also avoid capital gains taxes.
    • After the death of the trust beneficiary, or at the end of the specified term of years, remaining trust assets become part of the Hospital endowment and benefit our community for generations to come.
Charitable Lead Trust: You make a gift to Saratoga Hospital now, and the Hospital receives annual disbursements for a specified term of years. At the end of that term, the principal is given to your heirs, who can save on gift and estate taxes.

  • You transfer assets to a trust that pays income to Saratoga Hospital—at a fixed or variable rate—for a specified period of time. Because you receive a tax deduction when you make the transfer, you may save on income taxes that year.
  • At the end of the specified time, trust assets are returned to your heirs.
  • Trust assets often appreciate over time. That appreciation is exempt from gift and estate taxes.
  • The Hospital receives income that can be put to use immediately to meet the healthcare needs of the community.

*Saratoga Hospital does not act as trustee on any trust arrangements.

This information is not intended to be tax or legal advice. Please consult a financial advisor who has experience with charitable giving vehicles before making a gift. We can offer assistance through our Legacy Council of Advisors. Be assured that we have no formal or fee-based relationship with any advisors.

 

For more information or to schedule a personal consultation with no obligation, please contact Amy Raimo at 518-583-8789 or araimo@saratogahospital.org.

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