Gift Planning in All Stages of Life

Whatever your stage in life, it’s never too late to get started, and it’s never too early to think about the role philanthropy could play in your retirement planning. There are options that make it possible to plan a meaningful gift to University Hospitals, while retaining the flexibility to adjust plans as objectives and finances change.

Starting Out

As you begin your career, gift planning can allow you to designate future support without interfering with current cash flow.

  • Retirement Plan: Designate UH as beneficiary of a portion of your retirement account upon your death.
  • Life Insurance Policy: Designate UH as beneficiary or contingent beneficiary of your life insurance policy.

Putting Down Roots

Career years can present opportunities to make a gift that supports our mission while providing you with immediate tax benefits and future income.

  • Gifts of Appreciated Property: Donate long-term appreciated stocks, bonds or mutual funds to UH – you may receive a charitable deduction and avoid paying capital gains tax.
  • Deferred Gift Annuity: Establish a gift that will pay you and your spouse income when you need it – such as during retirement. You could benefit from an income tax deduction now – and increase future payments by deferring the gift annuity start date.
  • Bequest: Include a gift to UH in your will or trust. A bequest can be changed, depending on your needs, and should not impact your current finances.

Prime of Life

The transition from work to retirement comes with its own specific planning challenges. Gift Planning can play a role here, too, by helping you realize personal objectives while making a difference for others.

  • Charitable Remainder: Trust Contribute cash or convert appreciated, lowyielding assets into a diversified portfolio that provides income to you or loved ones, while providing future support to UH.
  • Charitable Lead Trust: Pass wealth to family members in a taxefficient way and make a generous gift to UH.
  • Gifts of Real Estate or Business Interests: Donate real estate, such as a vacation home or investment property, or a business interest to UH, which may allow you to receive a charitable tax deduction and avoid capital gains tax on any appreciation.

Retirement

The "happily ever after" stage of life is when you realize your plan has succeeded and you have additional flexibility with gift planning to help shape the future.

  • IRA Charitable Rollover: Take advantage of a tax-free gift from your Individual Retirement Account (IRA) that would count toward your required minimum distribution. If you are 70½ or older, you can transfer up to $100,000 each year directly from your IRA to UH.
  • Charitable Gift Annuity: Increase your retirement income and support the purposes you care about at UH. Donate cash or appreciated stock and receive a fixed payment back from UH for life. You also may receive an immediate charitable deduction and other tax benefits.
  • Gifts of Tangible Personal Property: Contribute artwork, collectibles and other items of value to UH that may provide you with a charitable deduction.
  • Life Insurance: Make a gift to UH of your paid-up policy that is no longer needed and you may receive a charitable deduction for the cash value of the policy. If you purchase a new policy, you could then transfer ownership and benefits to UH.
  • Endowment: Create an endowment during your life or through a will or trust to perpetuate your annual gifts to UH, providing a legacy for you or a loved one that is personally meaningful.

Giving in all stages of your life can be much more satisfying when personal philanthropy is combined with sound planning. The Gift Planning Team would be happy to work with you and your advisors to discuss gift planning strategies and proposed tax law changes. Call 216-983-2200 or visit UHGiving.org/GiftPlanning.

Give Now

To find out more about how you can make a difference at UH, contact us:

216-983-2200