Ways to GiveThere are several vehicles for making a tax deductible gift to the Foundation for Pike County Memorial Hospital. You may make a gift with cash, check or credit card-you may leave a bequest to the Foundation in your will-you may make a gift of real estate, life insurance or the proceeds of a business. By making a tax-deductible gift, you will enable Pike County Memorial Hospital to continue its mission of providing quality healthcare services to the Pike County community. By remembering the Foundation in your will or trust, you will leave a legacy that will be remembered for generations to come.
Cash Gifts:A check payable to The Foundation for Pike County Memorial Hospital
A credit card payment through PayPal using the "Donate" button at the bottom of this page (a safe, secure way to make an online gift)
A memorial or honorarium: You may make a gift to the Foundation in the name of the person(s) you wish to honor or remember.
Assets:Real Estate: Name the Foundation of Pike County Memorial Hospital as a TOD (time of death) for your house, farm, and/or proceeds of a business sale.
Stocks/Bonds: Transfer stock/bond gifts to the Foundation for Pike County Memorial Hospital.
U.S. Savings Bonds: Name the Foundation as a beneficiary or co-owner for your U.S. Savings Bonds.
Life Insurance:Talk with your insurance agent about adding the Foundation for Pike County Memorial Hospital as a full or partial beneficiary of an existing life insurance policy.
Purchase a specific life insurance policy, name the Foundation as the owner of the policy and beneficiary of the policy. You pledge and pay the premiums on the policy with:
- A single payment to pay the full premium.
- Premium payments made over a 3-7 year period.
IRA/Other Retirement Account:You may add the Foundation for Pike County Memorial Hospital as a full or partial beneficiary of your IRA or other retirement account.
Life Insurance Revocable Trust (LIRT):To avoid any estate taxes, talk to your insurance broker about an LIRT. Here's how it works: You purchase a life insurance policy and name your heirs as beneficiary(ies). Name the Foundation for Pike County Memorial Hospital as the beneficiary of your IRA or other retirement account. Make arrangements for your IRA account to pay the premiums on your life insurance policy. At your death, your heirs will receive the principal of the insurance policy with no inheritance tax, and the Foundation will receive the remainder of the IRA with no tax consequences.
Bequests in Your Will and /or Trust:
Review Your Will Annually:
You should take time at least once a year to review your will to assure that it is up to date with your current needs and circumstances. New Year's Day or your birthday can be logical "review dates." Ask your lawyer to look at your will every two or three years, as well. Changes may have occurred in state or federal laws that could affect the taxation or distribution of your estates.
To make a small change, you may need only a "codicil." This is simply an amendment that will preserve most of the provisions of your existing will. To make major changes, a complete new will (which specifically revokes all prior wills) may be preferable. Either way, you will need your attorney's help. If it does turn out that you need a codicil or new will, we hope you'll consider one more satisfying change: a thoughtful bequest for our future. Your attorney will require our correct legal name, which we can furnish to you, along with ideas for planning a bequest to benefit a particular program or purpose that may be most important to you.
Update Your Living Trust:
Many of our friends have revocable living trusts that will distribute more or all of their assets at death. These trusts also need to be reviewed regularly just like a will. People who have living trusts also need wills. Why? To name executors or guardians and to dispose of any assets that have not been transferred into their trusts before death. Remember that assets you acquire after setting up a living trust will not avoid probate unless they have been transferred into the trust.
Remember, too, that you can make us one of the beneficiaries of your revocable living trust...a thoughtful "update."
Review Other Estate Plans, Too.
When you update your will or living trust, remember to review all the arrangements that affect your beneficiaries:
Life Insurance. Are your designated beneficiaries still living? Do you have enough protection for present needs? Does your insurance still serve its original purpose?
Retirement Accounts. Who will receive benefits from your IRA or other plan after your death? How much will they keep after taxes? Have you considered leaving death benefits to charities?
Savings Bonds. Did you name a beneficiary or co-owner for your U.S. savings bonds? Is that person still living?
Business Interests. Have you planned for an orderly transfer of any business interests you own, including payment of death taxes?
Federal Estate Tax. Can you estimate, within $20,000, your current net worth? If your gross estate exceeds $2,000,000, get some help with estate tax planning.
Health Care Decisions. Do you have a living will or health care power of attorney to assist your doctor and family?
Disability. Have you established a trust or general durable power of attorney that names someone to make financial decisions during a time of incapacity?
Special Beneficiaries. Have you set up trusts or other arrangements for family members with special needs?
Become a member of the Foundation's Legacy Club by remembering us in your will.
The Foundation for Pike County Memorial Hospital2305 Georgia Street
Louisiana, MO 63353
Phone: (573) 754-5531
Ways to Give
Foundation Board Members