Planned Giving 

Grateful patients and their families often tell us that they wish they could support NRH to a greater extent than they are currently able, but ongoing health and financial uncertainties cause them to hold tight to their assets. There are, however, simple and effective ways to include NRH as part of your estate plan and at the same time minimize the tax implications for your heirs:

Make NRH the beneficiary of your bank account or life insurance policy. Your heirs will be hit with both estate and income tax if you decide to leave these monies to them. However, bequeathing them to a nonprofit organization like NRH will result in a zero tax bill. Most financial institutions can provide you with a simple beneficary form that may be updated in the future as family circumstances change.

Bequest the balance of your 401(k) or traditional IRA to NRH. These monies will transfer tax-free to a nonprofit organization. If bequeathed to your heirs, the distributions from these funds will be subject to federal income tax. The recipients will pay tax on the remaining plan assets as well as any lifetime distributions. In addition, the fair market value of these assets is subject to estate tax, depending on the applicable estate tax exemption and deductions.

Leave the other items in your will to your heirs. When dividing your remaining assets, leave any cash, appreciated stock, real estate or Roth IRAs to your heirs to minimize their tax implication. They will receive a stepped-up basis in the stock and real estate and will only be taxed on gains received after distribution.

With some simple strategic planning, you could potentially make a gift to NRH that you never thought possible -- while still preserving assets for your heirs. These bequests can benefit you and your heirs, while still providing for the success of NRH and our wonderful patients for many years to come.