Gift Planning

Any gift, made in a donor’s lifetime or at death, as part of one’s overall financial and/or estate plan. By contrast, gifts to the annual fund or for membership dues are made from a donor’s discretionary income, and while they may be budgeted, they are not planned.

Many non-profit organizations provide sample language to a donor who wants to include the non-profit in his or her will.

Sample language for a specific bequest to Craig Hospital is:

I give Craig Hospital Foundation (Tax ID #23-7352287), located at 3425 S. Clarkson St., Englewood, CO 80113 all (or state a percentage or specific amount) of the remainder of my estate, both real and personal, to be placed in the Craig Hospital Foundation Endowment Fund.

1. You can make a gift that costs you nothing during your lifetime, and keeps your assets under your control.
2. You can change your bequest if your circumstances change.
3. Your bequest lets us know that you believe we will be doing good work, far into the future.

A bequest is a gift that you make through a will or a revocable trust functioning as a will. A beneficiary designation is a gift you make by way of a contract. Life insurance policies, bank accounts, brokerage accounts, donor advised funds, and retirement plans are examples of assets that pass by contractual beneficiary designations.

If you don’t name a beneficiary for one of these contracts, or if the beneficiary designation is to someone who has predeceased you or from whom you have since been divorced, then the assets will go to your probate estate and pass by bequest. 

Though probate isn’t as bad as it is sometimes said to be, it can add costs and delay to estate administration. Most people don’t like that, so it’s important to complete and to regularly review your beneficiary designation forms.

You can make a gift to Craig Hospital via bequest or beneficiary designation form.