Planned giving: Leave a legacy of compassion

Planned giving is a way in which you can easily give to MHTP by including it in your overall estate or financial plan. Your generosity will create a legacy of compassion that will continue to change people’s lives for many years. Doing so could also provide you with immediate or future tax benefits.

Planned giving opportunities include will bequests, charitable remainder trusts, a charitable lead trust, and/or a beneficiary designation of a life insurance policy. We recommend that you consult your tax advisor, financial advisor, or your attorney to determine which strategy is best suited for your individual situation.

Below is a synopsis of each of these types of giving opportunities. Talk with us about leaving a legacy of compassion: please contact Chief Executive Officer, Carol Spears at ceo@mhtp.org or CMP-682-MHTP (267-682-6487).

Wills and bequests

Bequests to MHTP can be made through a new will or by adding a codicil to your existing will. An unrestricted bequest is one that allows MHTP to direct your gift where it will have the greatest impact. A restricted bequest allows you to designate your gift for a purpose of your choosing.

Charitable Remainder Trust (CRT)

A charitable remainder trust (CRT) enables you to put a highly appreciated asset, such as stock or a vacation home, into a trust for which MHTP is the beneficiary (or one of several beneficiaries). In the trust document, you designate what income you want to receive from the trust (e.g., 7%/yr). The CRT sells the gifted assets and reinvests the proceeds to provide you with income as stated in the trust document. You do not pay the capital gains tax on the sale of the appreciated asset, and you receive an immediate tax deduction for your gift to the trust. As a beneficiary of the CRT, MHTP receives a predetermined amount from the trust upon the death of those indicated in the trust document.

Charitable Lead Trust (CLT)

A charitable lead trust (CLT) also allows you to put a highly appreciated asset, such as stock or a vacation home, into a trust that pays a predetermined amount to you, or your designates, as stated in the trust agreement. At the end of the stated time period, the remainder of the trust is distributed to MHTP. This strategy can be very effective in minimizing or eliminating the gift and estate taxes that are otherwise associated with an outright gift.

Life insurance policy

There are many ways to make a gift to MHTP with life insurance and receive significant tax benefits with possibly no out-of-pocket money. You can do this by naming MHTP as beneficiary of a policy you already own, purchasing a new life insurance policy and naming MHTP as the beneficiary, or making MHTP the owner of an existing policy on which you continue to pay premiums.

Curious about taking the next step?

Thank you for considering the opportunity to create a lasting legacy of compassion through MHTP. There are a lot of options and intricacies involved with planned giving. Talk with Chief Executive Officer, Carol Spears at ceo@mhtp.org or CMP-682-MHTP (267-682-6487) to find out if this is right for you.