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Dr. Jennifer Thoene & Dr. Brent Burket with staff of MMCH hospital in Ghana.
Click here to read Dr. Burket's letter to thank short-term doctors... |
Planned Giving is a way to ensure that your generosity lives on in perpetuity, both for your family and the poorest of God's children. There are many vehicles for charitable estate planned giving.
- Your Will: After providing for the needs of your loved ones, you may choose one of several ways to support Catholic doctors serving at Mission Hospitals and Clinics. You can use your Will to make a gift of a dollar amount, a specific property or a percentage of your estate; you may also donate the unspecified remaining value after you have cared for your loved ones.
- Life Insurance: One of the simplest ways to make a significant gift in the future is to name Mission Doctors Association as beneficiary to receive all or a portion of the proceeds of a policy no longer needed for its original purpose. You can also donate a Life Insurance policy in your own lifetime and receive tax credit by naming MDA as the owner and beneficiary of the life insurance policy. Your insurance agent can offer you the details.
As an example, Dr. Smith owns a $100,000 life insurance policy with a current cash value of $40,000. By transferring the policy to Mission Doctors Association as the new owner and beneficiary, Dr. Smith is able to receive a current charitable deduction in the amount of $40,000. Also, if Dr. Smith continues paying the premiums on the policy after the gift is made; these additional premium payments will be tax deductible each year.
- Revocable Living Trust: You may choose to rely on a Revocable Living Trust to pass your property to loved ones while minimizing probate costs. This can add a charitable dimension to your plan. At the termination of your Revocable Living Trust, you can provide that a portion of the assets in the Trust be gifted to Mission Doctors Association. Much like a charitable bequest through a Will, such a gift is deductible from estate taxes and can take effect after you have cared for your loved ones.
- Donations of stock or property: A means of avoiding capital gains tax and making a difference in the work of Mission Doctors Association is to donate appreciated stock or property. As an example if a stock was purchased for $100 and is now worth $1,000 - a donation of that stock or property to MDA provides the donor a $900 savings in income upon which capital gains tax is computed and a tax deduction for the full fair market value of the stock or property at the time of the donation.
Everyone's situation is unique, and we will be happy to discuss with you your desire to leave a legacy of support for Mission Doctors Association.
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Contact us for more information on planned giving.
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If you have named Mission Doctors Association in your will, trust or as beneficary of a Life Insurance Policy please let us know so that we may acknowledge your gift. To learn more about MDA Legacies click here
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