It is also possible to make financial arrangements that will allow the donor to receive benefits while he or she is living and then provide for O'Bleness at the time of the donor's death.

With the donor's permission, any donor who makes a planned gift and provides documentation to the hospital will be included on the hospital's permanent Legacy Society Recognition Board.

Planned giving options include:

Endowment
Wills and Bequests
Charitable Gift Annuity
Gifts of Life Insurance
Charitable Remainder Unitrust
Charitable Remainder Annuity Trust
Charitable Lead Trust
Revocable Charitable Trust
Life Estate

Endowment
An endowment is a restricted or non-restricted fund established by the donor. A named endowment can be established with a gift of $10,000 or more. Normally, only the income from the investment is used. However, the hospital's Board of Trustees reserves the right, in the event of an emergency and upon the recommendation of the Board of Trustees' Finance Committee and a vote of at least three-fourths of all members, to liquidate all or any part of the endowment investments and to use the proceeds for hospital purposes as it deems necessary. The board also reserves the right, upon a majority vote, to remove the restriction placed on the interest income. In addition, the Board of Trustees reserves the right to add monies from other sources to endowment funds.

An endowment fund does more than preserve a donor's contribution. It can build the donor's original gift into a larger one.

Individuals should consult their attorney, banker or tax advisor to establish an endowment or visit To Make a Gift and request a follow-up phone call from an O'Bleness representative.

Wills and Bequests
The most common way to make a planned gift to O'Bleness is with a will or bequest. An individual may make a bequest through his or her will in terms of a specific amount or a percentage of the residuary estate.

Individuals should consult their attorney, banker or tax advisor to establish a will or bequest or visit To Make a Gift and request a follow-up phone call from an O'Bleness representative.

Charitable Gift Annuity
With this agreement, the donor gives the hospital a specific sum of cash or appreciated securities or other property, which he or she has held for more than one year. In return, the donor is guaranteed a fixed annual income for life. Part of the transfer is treated as a gift to the hospital, providing the donor with tax benefits.

Individuals should consult their attorney, banker or tax advisor to establish a gift annuity or visit To Make a Gift and request a follow-up phone call from an O'Bleness representative.

Gifts of Life Insurance
The gift of a life insurance policy generates substantial current tax savings for the donor. Individuals receive an income tax charitable deduction when they name O'Bleness Memorial Hospital as the beneficiary of their life insurance policy and transfer ownership of the policy to the hospital.

Individuals should consult their attorney, banker, tax advisor or insurance agent to name O'Bleness Memorial Hospital as a beneficiary for their policy or visit To Make a Gift and request a follow-up phone call from an O'Bleness representative.

Charitable Remainder Unitrust
A charitable remainder unitrust irrevocably transfers assets to a trust that then pays income to the donor and/or other named beneficiaries either for life or for a designated period of time not to exceed 20 years. Upon the death of the last surviving beneficiary or at the expiration of the established time period, the trust assets are transferred to the hospital.

Individuals should consult their attorney, banker or tax advisor to establish a charitable remainder unitrust or visit To Make a Gift and request a follow-up phone call from an O'Bleness representative.

Charitable Remainder Annuity Trust
This trust is similar to the unitrust with the exception that it pays the donor an amount determined when the trust is established. This type of trust carries all the same income and tax advantages as a charitable remainder unitrust.

Individuals should consult their attorney, banker or tax advisor to establish a charitable remainder annuity trust or visit To Make a Gift and request a follow-up phone call from an O'Bleness representative.

Charitable Lead Trust
The opposite of the charitable remainder trust, a charitable lead trust provides the hospital with a gift of income rather than principal. The income is payable at least annually for a term of years after which time the property reverts to the donor or passes to beneficiaries designated by the donor.

Individuals should consult their attorney, banker or tax advisor to establish a charitable lead trust or visit To Make a Gift and request a follow-up phone call from an O'Bleness representative.

Revocable Charitable Trust
This trust allows donors to receive income from the trust while they are living. A donor can revoke the trust, change its terms, add to it, or withdraw some or all of the trust assets. When the donor dies, the assets in the trust (if the trust has not been revoked) will belong to the hospital.

Individuals should consult their attorney, banker or tax advisor to establish a revocable charitable trust or visit To Make a Gift and request a follow-up phone call from an O'Bleness representative.

Life Estate
Donors who own a home may, under a retained life estate plan, give the property to O'Bleness Memorial Hospital and receive the benefit of a current income tax charitable deduction and continue to use the property for the duration of their lives. The donor can also arrange for a survivor to enjoy life occupancy. The amount of tax savings depends on the donor's age and the value of the home.

Individuals should consult their attorney, banker or tax advisor to establish a life estate or visit To Make a Gift and request a follow-up phone call from an O'Bleness representative.