Planned Giving

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Planned Giving

Robert Lawlor, Lowell General Hospital Corporator and Planned Giving Committee member, recently shared his own personal experience as executor of his father's estate. Read more about Settling An Estate.

Bequests

Bequests are the most popular form of a planned gift to Lowell General Hospital. The myth that only wealthy people can make a bequest is false. Individuals of modest means who feel they cannot make a gift during their lifetime can do so in their will. Such donors benefit directly by not depleting current income, reducing estate taxes, supporting a program of choice, and honoring a loved one.

Individuals who notify LGH of their bequest intentions become members in the James K. Fellows Society and receive acknowledgement on the Fellows plaque in the Hospital's lobby, recognition in the Annual Report on Philanthropy and at the annual Fellows event. Click here for a Gift of Bequest form and sample wording for your attorney.

Please contact us for additional assistance in making arrangements for a bequest.

Endowment Funds

Lowell General Hospital receives gifts from many donors whose loyal support continues for years. Endowments can serve to extend such loyalty beyond one's lifetime. An endowment fund permanently sets aside and invests funds to generate annual income for the hospital.

Additionally, endowments provide an opportunity to permanently honor and memorialize a donor's generosity, creating a legacy that lives through the ages. Please contact us for more information on our endowment program.

Charitable Gift Annuity

A Charitable Gift Annuity (CGA) is a simple way to make a lifelong gift to Lowell General Hospital and supplement your income at the same time. You make a gift and Lowell General returns you income for your life.

A CGA is not insurance. When a gift annuity is arranged, a specified amount of cash and/or stocks is transferred to the hospital in exchange for a guaranteed fixed regular payment for the donor's life (or lives if the contract is based on two lives).

Here are the benefits for you:

A fixed income for life that you can depend on
A sizable tax deduction the year the gift is made
A portion of your annual income is tax-free supplemental income for retirement
If fund by appreciated securities, capital gains spread over the donor's life expectancy rather than filing taxable gain in one lump sum
A generous expression of support for Lowell General Hospital
The James K. Fellows Society has been established to recognize all individuals who include Lowell General Hospital in their estate plans. All members are acknowledged on the Fellows plaque in the Hospital lobby, the Annual Report on Philanthropy and at an annual recognition event.

Could this be for you? Please contact us for a sample charitable gift annuity calculation.

Charitable Remainder Trust

With a charitable remainder trust, your gift is placed in a trust. The trust sells and reinvests the assets, and makes regular income payments to you and/or other named beneficiaries. Payments may last either for a specific number of years or for one or two lifetimes. The payout rate is variable and based on the fair market value of the gift placed in the trust.

Charitable Lead Trust

A lead trust is a useful tool for individuals who want to pass property on to family members at the lowest possible gift tax and estate tax cost and who, at the same time, want to make a gift to Lowell General Hospital. Your assets are protected in a trust for a specific period you choose and the income earned is paid to LGH. At the end of the trust, the principal and income is distributed tax-free to you or your designated beneficiaries.

Insurance Policy

It is common to have a life insurance policy that may no longer be needed for its original purpose. Naming Lowell General Hospital as the owner and beneficiary of the policy provides you with an immediate tax deduction, and the value of the policy will be removed from your estate for probate purposes.

IRA'S and Retirement Plans

One of the most beneficial ways for dealing with IRA's or other retirement plans is to create a charitable trust in your will to be funded with your IRA. It may not only save taxes but greatly increase the amount received by your beneficiaries.

For more information on these and other forms of planned giving, please contact us.