Bequests - The Gift of Your Lifetime
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One of the simplest ways to make a planned gift is through a bequest or a testamentary will.
Wills are considered "revocable" because you can change your mind and amend your plans for your estate at any time. Wills are made to leave money, personal property such as your home or jewelry, and your accounts to the recipients you select. You may want to give something to family and also give to your church, your college and places like Littleton Regional Healthcare (LRH), to show your appreciation for services over the years.
Your bequest can help strengthen our community for many years to come.
You may designate LRH to receive a specific amount, a percentage or a residuary bequest from a will or trust and/or designate LRH to receive part or all of life insurance proceeds or the remaining principal in a retirement plan or brokerage account. Both instances have positive estate tax implications while you maintain control of the assets throughout your lifetime.
Sample language for a bequest would be...
"I give to the Littleton Regional Healthcare, a New Hampshire not-for-profit corporation, federal tax ID Number 02-0222152, located in Littleton, New Hampshire the sum of (insert amount) for its general uses and purposes."
- You can specify a exact amount or personal property, OR
- You can specify a percentage of estate assets, OR
- You can specify a percentage of the residuum (or remainder) of an estate after other bequests have been made, OR
- You can specify a contingent (back up) bequest of a set amount or a percentage should the original beneficiary conditions fail to materialize.
Wills in NH must be signed by two witnesses. It is best practice to have all signatures notarized. Holographic will or a will written entirely by hand are not recognized in NH.
Other options for a Revocable Agreement:
- Name Littleton Regional Healthcare as the beneficiary in your IRA or Retirement Plan.
- Name Littleton Regional Healthcare as the beneficiary on a life insurance policy.
However you choose, once you have made the decision to leave a part of your estate to Littleton Regional Healthcare, let us know your plans. We want to discuss it with you to make sure we understand how you would like your gift to be used and provides the opportunity to recognize your generosity and thank YOU while you are still with us!
This information is based on general tax and legal principles but should not be construed as legal advice. Please consult with your tax or legal professional for specific advice.
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