Memorial gifts are a thoughtful way to remember someone. Many families ask that in lieu of flowers, donations be made to SSM Hospice & Home Care Foundation. The family of the person remembered will receive notification of the gift, but never the gift amount. To establish a permanent memorial fund, see Loving Tribute Fund.
Loving Tribute Funds
A permanent memorial fund in your loved one's name truly creates a lasting tribute. You can raise donations through estate/yard sales, events or gifts to honor a loved one's anniversaries and birthdays.
A will or living trust gives you the opportunity to provide a continuing legacy to both individuals and charities. A gift to SSM Hospice & Home Care Foundation will assist us in offering security for future patients while providing your estate with a complete charitable deduction.
Naming SSM Hospice & Home Care Foundation as a beneficiary of your IRA or other retirement plan is one of the most tax effective gifts you can make. The distribution to SSM Hospice & Home Care Foundation not only passes free of federal estate and state inheritance taxes (where applicable), it also avoids the deferred income tax that would have been owed by individuals. Further, under pending legislation, individuals who are over 70-1/2 can make direct distributions from IRAs in 2010 without declaring that distribution as income. In fact, the charitable gift will satisfy your required minimum distribution.
Life Insurance Gifts
A small investment now can yield exceptional benefits later. When SSM Hospice & Home Care Foundation is named as both the owner and beneficiary of the policy, your future premium payments are tax deductible.
Charitable remainder trusts can provide lifelong income to individuals while supporting SSM Hospice & Home Care Foundation programs in the future. Charitable lead trusts operate in the opposite manner: SSM Hospice & Home Care Foundation benefits for a number of years with the remainder passing to your heirs. Tax and other benefits are available in both of these vehicles.
Real Estate with Retained Life Estate
Through this remarkable instrument, you deed your home to the Foundation and reserve for yourself the right to live in the house for the remainder of your life (or lives). During your lifetime, you treat the home exactly as you do now (paying taxes, insurance and other expenses) and receive a charitable deduction for your home’s “remainder value.” The value of your home is not included in your subsequent estate for tax purposes and the property passes completely free of probate and other estate complications.
If you would like more information please contact Laura Morris at Laura_Morris@ssmhc.com or call 314.989.2545.