Name Open Medicine Foundation as a beneficiary of your estate. Where there’s a will, there’s a way to honor your personal legacy of compassion.

Example:

Bequeath a specific dollar amount, an asset, a percentage, or the residue of your will or trust to Open Medicine Foundation. Because this portion of your estate is tax deductible, your donation may significantly reduce taxes otherwise payable by your estate.

Retirement Plans and Individual Retirement Accounts offer great tax benefits while you are living. However, at your death, the tax costs of these assets can be immense. One way to save your family and heirs the burden of these costs is to make a charitable contribution using these assets.

Examples:

1. Name Open Medicine Foundation as the beneficiary of your IRA or Retirement Plan so that your heirs will not have to pay the income taxes you have avoided during your lifetime. In addition, your heirs will not have to pay estate taxes on the value of your retirement vehicles. By naming Open Medicine Foundation as the beneficiary of your Retirement Plan or IRA, your family and heirs will avoid this double taxation.
   
   
2. The IRA Charitable Rollover allows individuals age 70½ and older to make direct transfers totaling up to $100,000 per year to 501(c)(3) charities, without having to count the transfers as income for federal income tax purposes.

You may choose to designate Open Medicine Foundation as a beneficiary of your life insurance policy.

Example:

1. Your existing life insurance policy may be assigned, all or in part, to Open Medicine Foundation. Or, purchase an additional life insurance policy naming Open Medicine Foundation as owner or sole beneficiary of this new policy.

This charitable strategy pays the donor and named beneficiaries income now until the trust matures, when the remainder passes to Open Medicine Foundation. Cash, securities and appreciated real estate are transferred to the trust and a diversified investment portfolio is established to generate income for the donor. The donor receives an income tax deduction for a portion of the assets contributed to the trust and pays no capital gains tax on the transfer.

There are two types of Charitable Remainder Trusts

1. Annuity Trust   You receive stable, predictable income annually based on a fixed percentage of the original assets donated.
2. Unitrust Trust  You receive income annually that varies based on a fixed percentage of the value of the investments, which are re-valued annually.

One of the most elegant ways to assure that your loved one’s name will be remembered is through a Named Gift to commemorate, memorialize or celebrate a family member or friend either in perpetuity, or over a fixed period of time.

Open Medicine Foundation offers opportunities to honor loved ones by affixing their names to grant programs, making them partners in a Healthy Future, for generations to come. Click here to learn more.