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Sun Health Foundation  

Bequests

 

You’d like to help build the long-term strength of Sun Health Foundation, but you feel you cannot make a significant gift today. Your solution may be a charitable bequest. A bequest in your will or trust can allow you to meet your commitments today while supporting Sun Health Foundation tomorrow.

To determine if a bequest is right for you:

How it Works

  • You can provide now for a future gift to Sun Health Foundation by including a bequest provision in your will or trust.
  • When Sun Health Foundation receives the gift upon your death, it is applied to the purpose(s) you specified.

    Benefits

    • Your assets remain in your control during your lifetime.
    • You can modify your plan if your circumstances change.
    • You can direct your bequest to a particular purpose (be sure to check with Sun Health Foundation to make sure your gift can be used as intended).
    • There is no upper limit on the estate tax deductions that can be taken for charitable bequests.
    • You know that your gift will benefit Sun Health Foundation tomorrow just as you intend it to today.

    Donors chose a bequest because:

    • It does not affect your assets or cash flow during your lifetime.
    • It is revocable – you can change the provisions in your will or trust at any time.
    • It is private – your will is not filed or made public until your death.

    Including Sun Health Foundation in your estate plan:
    The legal name of our organization is Sun Health Foundation, Inc.  It is a 501(c)(3) organization and the federal tax ID# is 23-710-7959.  Our address is P.O. Box 2015, Sun City, AZ  85372.

    Sun Health Foundation encourages the following bequest language for gifts in support of Sun Health services: 

    “I give, devise, and bequeath to Sun Health Foundation for (Gift Designation) all (or state a fraction or percentage) of the rest, residue and remainder of my estate, both real and personal.”

    or

    “I give, devise and bequeath to Sun Health Foundation, in the sum of $_________ to be used for (Gift Designation).”

    If you choose to make a gift in support of any other operating division of Banner Health, you would state the name of one or more of the following in place of the above example in bold. If you choose to support the highest need determined by our all-volunteer board of trustees, simply use “highest need” in each of the above examples. A list of gift considerations follows:

    Is a bequest deductible?
    A bequest from a will or a trust to Sun Health Foundation is fully deductible for federal tax purposes, and there is no limit on the deduction an estate can claim. In addition, the gift is usually exempt from state inheritance taxes.

    Planning points

    1. The more you narrowly restrict the use of your bequest, the greater the risk that the program you want to benefit today won’t be as vital or as relevant when we receive your gift in the future. Please talk with us as you are drafting your will if you want to restrict the use of your bequest.
    2. The remaining balance in your retirement plan makes a tax-wise gift to Sun Health Foundation. Please avoid directing this gift through your will or trust as these may be estate tax implications. Use your plan’s beneficiary designation form.

    What if I’ve already written my will or trust?
    You can amend a will or trust to make a gift without rewriting the entire document. Your attorney can prepare a simple document called a codicil, which adds a new bequest to us while reaffirming the other terms of your will. Similarly, an attorney can prepare an amendment to a revocable trust to add Sun Health Foundation as a beneficiary. 

    Getting Started
    There are many important issues to consider when drafting your estate plan, but you can get started right now by following a few simple steps:

    1. Get organized. Gather all of your important documents in one place. You may be surprised to find out how much you actually have. Write down a list of all of your valuable property, and be specific. Instead of writing “Car”, list “2006 Honda Accord LX, VIN 0123456789012.”
    2. Set your priorities. Make a list of all the people and organizations that you want to remember in your will by leaving them some of your property.  f you plan to make a charitable bequest, be sure to get their organization’s legal name, current address, and whenever possible, its tax-exempt ID number.
    3. Review your beneficiary designations. Review all of your checking accounts, savings accounts, brokerage accounts, retirement plans, pension plans, life insurance and any other assets for which you may have a beneficiary designation, and make any necessary updates or changes.
    4. Think about guardians. If you have minor children or an older parent or other adult whom you care for, be sure to appoint a guardian for them in your will.
    5. Choose an executor. Select a person you trust to serve as your executor. You may want to choose an alternate should your first choice be unwilling or unable to serve.
    6. Hire an attorney. Ask friends and colleagues for referrals, and call for an initial consultation to find someone with whom you are comfortable. Ask about fees in advance, and tell your lawyer whom you wish to benefit and what you wish to accomplish in drafting your will.
    7. Review and update you will on a regular basis. The saying goes: “Life is what happens when you are making other plans.” Our lives are constantly changing – your will needs to be updated periodically to reflect such life changes as:
      • The death of a beneficiary
      • Marriage, divorce or remarriage
      • The birth of a child or grandchild
      • An inheritance
      • The purchase of a new asset such as life insurance, a new home, etc.
      • A bequest to an organization to commemorate a loved one or to recognize the good work of a favorite charity

    For questions related to a Bequest, please email us or call (623) 876-5330.
    Sun Health Foundation
    13180 N. 103rd Drive
    P.O. Box 2015
    Sun City, AZ 85372
    (623) 832-5330
    (623) 832-6686 Fax
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