February 21, 2019
A Gift through Your Will or Estate
You can contribute to St. Mary’s mission of improving the health and quality of life for children and families with special needs through a gift in your will or other long-range financial plans. Such gifts are easy to establish and provide an opportunity to make a life-changing difference. All it takes is a simple addition to your existing documents.
Just as contributions made to St. Mary’s during your lifetime may entitle you to income tax deductions, a gift through your will, or a bequest, can in many cases reduce the estate taxes that may be levied against your property. This charitable deduction can greatly reduce the cost of making a bequest.
In addition to estate tax benefits, bequests are simple and straightforward to create and can be structured to address a variety of your family’s needs. A bequest made to establish a testamentary charitable lead trust, for example, will provide income for your designated beneficiaries. For some it is advisable to make use of living trusts and/or other plans along with their wills when planning gifts to loves ones and charitable interests through their estates. Please consult with your advisors to determine what type of gift works best for your situation.
A bequest may be stated in as little as one sentence:
“I give and bequeath to the trustees of St. Mary’s Healthcare System for Children, 29-01 216th Street, Bayside, NY 11360, federal tax identification number 11-3574493, ____% of my total estate (or $____, or other property).”
We can provide you with additional sample language to give to your attorney.
Your Next Steps
If you would like to speak directly and confidentially with a member of the development staff about how a gift though your estate plans can support the work of St. Mary’s and help you achieve your philanthropic goals, please contact:
Mr. Hugh Kelly
Office of Development
hkelly@stmaryskids.org
(718) 281-8512
