Making a planned gift is a wonderful way to show your support and appreciation for Mercy Medical Center and its mission while accommodating your own personal, financial, estate-planning and philanthropic goals. With smart planning, you may actually increase the size of your estate and/or reduce the tax burden on your heirs. Just as important, you will know that you have made a meaningful contribution to ensure the future of Mercy.
Securities: Gifts of appreciated securities may offer substantial tax advantages. These include forgiveness of the tax on capital gain and an income-tax charitable deduction for the fair market value of the securities.
A Bequest in Your Will
Specific-Amount Simple Cash Bequest
Specific bequests are used to make a gift of a specific dollar amount or specific asset (such as securities or real estate).
I hereby give, devise and bequeath to Mercy Medical Center (include Mercy’s full Address) federal tax ID number 11- sum of $________________ for its general purposes, specific programs, a designated specific purpose.
As an alternative to writing “for its general purposes,” you may prefer to state: “for its most immediate priorities as determined by the trustees of the Hospital in their sole discretion.”
Residuary Percentage Bequest
Residuary bequests are used to give all or a portion of the remainder of your estate after payment of expenses and any specific amounts designated to other beneficiaries.
I hereby give, devise, and bequeath to Mercy Medical Center, (1000 N. Village Ave. Rockville Centre, NY 11570), federal tax ID number 11-, ____ percent of the rest, residue, and remainder of my estate for its general purposes.
An Important Provision
Over a long period of time, Mercy Medical Center programs or departments may change from when you made your original designation. Adding the following provision allows us to honor your original intent as closely as possible and prevents your gift from being unusable.
“If Mercy Medical Center, in its sole judgment, determines that the original intent is no longer feasible, the Hospital may apply my gift and its income for the Hospital’s most immediate needs as will most closely fulfill the original intent.”
For more information on how to include Mercy Medical Center in your estate plans, please contact the Office of Development at (516) 705-1399 or email firstname.lastname@example.org