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Bequest – The gift that builds our future
An easy and low cost way to make a planned gift to support Abington Memorial Hospital Foundation is
to include Abington Memorial Hospital Foundation in your will or revocable trust. Bequests
are a major source of endowment support at AMHF. Each
individual legacy contributes to our financial strength and ability to meet
the needs of our patients and their families. If you have not already done
so, please consider naming AMHF as a beneficiary of your will or revocable
trust.
Types of bequests
You can give almost any kind of asset to Abington Memorial Hospital Foundation through
a bequest, including cash, securities, an interest in real estate (such as
a residence), tangible personal property (such as works of art or antiques)
or the remainder of your IRA, Keogh, tax-sheltered annuity, qualified pension
or profit-sharing plan. Ask your attorney about your bequest options, such
as specific bequests, residuary bequests, testamentary trusts and QTip trusts.
Tax benefits
A charitable bequest is deductible for federal estate tax
purposes, and there is no limit on the amount of the estate tax charitable
deduction your estate can take. In addition, bequests generally are not subject
to state inheritance or estate taxes. In a large estate, the savings can be
more than half the value of the bequest.
How to make a bequest
A bequest to support Abington Memorial Hospital Foundation can be made by creating
a new will, adding to your existing will, or including AMHF in
your revocable trust. If you include AMHF in a bequest
provision, please notify the Office of Planned Giving as this information is helpful for the hospital's planning purposes. The hospital also welcomes the opportunity to say thank you and extend to you membership in The Elkins Society. Membership in The Elkins Society may be anonymous. In addition, in some circumstances, an individual plaque may be dedicated in recognition of your generous provision.
Samples of bequest language
The following examples can be tailored to your interests.
Be sure to consult your attorney for assistance in making a bequest.
- Unrestricted bequest
"I give (_______ dollars) (a specific asset) or (___percent of the
rest, residue, and remainder of my estate) to Abington Memorial Hospital Foundation, the
charitable, tax-exempt organization located in Abington, Abington Memorial Hospital,
for its general purposes."
- Bequest for a specific purpose
"I give (______dollars) (a specific asset) or (___percent of the rest,
residue, and remainder of my estate) to Abington Memorial Hospital Foundation, the charitable,
tax-exempt organization located in Abington, Abington Memorial Hospital,
to be used for the following purpose: (state the purpose). A “saving clause” is a way to ensure the usefulness and relevance of your bequest in the future as Abington Memorial Hospital Foundation’s needs and circumstances change. For example: “If, in the future, it is the opinion of the Board of Trustees
of Abington Memorial Hospital Foundation that all or part of the income of this fund
cannot be usefully applied to such purpose, it may be used for any related
purpose which, in the sole opinion of the Board of Trustees, will most
nearly accomplish my wishes."
NOTE: If you wish to restrict your bequest to a specific purpose
or program at Abington Memorial Hospital Foundation, please contact the Office of Planned
Giving in advance to make sure the language you use will accomplish your
wishes and aligns with Abington Memorial Hospital Foundation’s needs.
- Endowment funds for restricted purposes
If your bequest will be used to establish an endowment fund for a restricted
purpose, we urge you and your counsel to consider adding a “saving
clause” to your bequest provision. A “saving clause” is
a way to ensure the usefulness and relevance of your bequest in the future
as Abington Memorial Hospital Foundation’s needs and circumstances change. For
example: “If, in the future, it is the opinion of the Board of Trustees
of Abington Memorial Hospital Foundation that all or part of the income of this fund
cannot be usefully applied to such purpose, it may be used for any related
purpose which, in the sole opinion of the Board of Trustees, will most
nearly accomplish my wishes."
WARNING: Consult your legal and tax advisors before making
any material decisions based on this information.
Send me a Personal Illustration!
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For more information
E-mail us,
complete the Personal Illustration form, or
call us at 215-481-4019 so that we can assist you.
Abington Memorial Hospital Foundation
1200 Old York Road
Abington, PA 19001
215-481-4019 | Fax: 215-481-4019
E-mail: acarthy@amh.org
*Notice: Consult your legal and tax advisors before making any material decisions based on this information.
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