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Bequests
When planning your estate, please consider naming Presbyterian Homes & Family Services (Federal Tax ID #: 54-0346118) as a beneficiary in your will, trust, retirement plan, or life insurance policy. Bequests can be restricted or left unrestricted so that your gift can be used wherever it is most needed when it is received. A donor may leave a specific amount of money, a particular asset, or a percentage of her or his estate.
By naming PHFS in your will, you become a treasured member of the Maxwell Living Legacy Society. Please contact Mark Morrison, Vice President of Development, 434-455-3647 or plannedgiving@phfs.org with your intentions.
Charitable Gift Annuity
A Charitable Gift Annuity (CGA) is a gift that will provide a donor (or the donor's designated annuitant) with fixed income payments for life and provide generous support for PHFS.
A CGA is an irrevocable gift and may be established with a gift of cash, appreciated securities or real estate. The CGA is a contract between the donor and PHFS. Under this contract the donor contributes assets to PHFS, which in turn provides a guaranteed fixed income for life for one or two beneficiaries. The amount of the annuity payment is dependent upon the age of the designated annuitant at the time of the gift and remains constant for life. In addition, donors may claim a charitable income tax deduction in the year the gift is made.
PHFS is prepared to work with donors, their attorneys and financial planners in setting up and administering CGAs. For more information, please contact Mark Morrison at 434-455-3647 or plannedgiving@phfs.org. You may also contact the Presbyterian Foundation, Attn: R. Dale Le Count, 5700 Executive Center Drive, Suite 204, Charlotte, NC 28212; 704-379-7909 or 888-711-1318.
Charitable Trusts
A Charitable Remainder Unitrust (CRUT) removes an asset from the donor's estate and designates PHFS as the trustee or the irrevocable beneficiary. CRUTs provide donors with a current tax deduction and allow them to retain the income generated by the asset during their own, and sometimes an additional beneficiary's, lifetime(s). The remainder value of the trust, when it is dissolved on the death of the last beneficiary, supports PHFS.
A Charitable Lead Trust is a different type of deferred gift in which a donor puts an asset in trust for a period of time so that the income generated by the asset benefits PHFS. At the end of the designated period, the asset is passed on to a named recipient. This is an especially tax advantageous gift vehicle for passing an asset from one generation to another while also helping PHFS.
PHFS is prepared to work with donors, their attorneys, and financial planners in setting up and administering trusts. For more information, please contact Mark Morrison at 434-455-3647 or plannedgiving@phfs.org. You may also contact the Presbyterian Foundation, Attn: R. Dale Le Count, 5700 Executive Center Drive, Suite 204, Charlotte, NC 28212; 704-379-7909 or 888-711-1318.