Gift and Estate Planning

Gift and Estate Planning

By remembering Children of Bellevue in your estate planning, you can help make sure that we will be here for the future generations of children. Current tax code can help you provide for both your heirs and Children of Bellevue through a philanthropic strategy that can:

• Provide gift plans that benefit you and your family
• Bring immediate and deferred tax advantages to you and your heirs
• Have a meaningful impact on the Children of Bellevue and its programs

The Legacy Society

When you make a planned gift to Children of Bellevue, you will join Legacy Society, our association for contributors like yourself and receive a number of benefits recognizing your special partnership with Children of Bellevue. More than that, you will experience the satisfaction of leaving your own legacy of hope to New York’s neediest children.

Bequests

As you have shared your income with Children of Bellevue during your lifetime, isn’t it appropriate to share some of what you have accumulated at the time of your death? By including a charitable bequest in your will or irrevocable trust, you are ensuring Children of Bellevue’s future, with no impact on your assets or cash flow during your lifetime. A charitable bequest is deductible for federal estate tax purposes, and is usually exempt from state inheritance taxes. A bequest may be designated for general support, the endowment fund or a particular program or purpose.

Charitable Remainder Trust

A Trust provides a source of income to a lifetime beneficiary (which could be you) and on the death of the beneficiary, the remainder of the trust would be paid to Children of Bellevue.  If you set up the Trust during your lifetime, you will receive an income tax deduction. If appreciate property is transferred to the Trust, you will avoid the capital gains tax. Some people choose to couple these with a life insurance trust, so their heirs’ bequests will not be reduced by the gift to the charitable remainder trust.

Retirement Plans

Children of Bellevue can be designated as the sole or partial beneficiary of a retirement plan, designation Children of Bellevue as a beneficiary can spare you loved ones the burden of paying income tax. Ask your plan manager for details.

Insurance Policies

If a life insurance policy is transferred the Children of Bellevue, you will receive an income tax deduction of the cash surrender value of the policy. Alternatively, you can name Children of Bellevue as the beneficiary of a policy that you own. There is no immediate tax deduction, but it does ensure significant future support.