A Variety of Options

The Dominican Sisters Home Health Agency relies upon philanthropy to help fulfill its mission of care for the sick.  In addition to outright gifts, many people find that estate gifts are an appropriate way to lend their support.  A variety of options exist, including:

• Charitable Bequest – by naming Dominican Sisters Home Health Agency of Denver, Inc. in your Will or Living Trust, you create a gift today that we receive when your estate is settled.
•  Retirement Plan – You can name Dominican Sisters as a beneficiary of your retirement plan.  To include Dominican Sisters, simply request a “beneficiary change” form from your retirement plan custodian, complete the form and return it according to the instructions provided. 
• Life Insurance – You can name Dominican Sisters as the beneficiary of a new or existing life insurance policy. 

Please contact Donna Heath at dheath@dominicansisters.org or 303-322-1413, ext. 22 with any questions.

Maximum Flexibility

Revocable Gifts
The future is uncertain.  You can create a planned gift today and still retain control over these assets for the balance of your life.  Such gifts are called revocable gifts.Unless you are confident that you will not outlive your assets, a revocable planned gift is almost always the best option.  Most planned gifts are revocable gifts.  Generally, they are one of the following:

Will or Living Trust
A Will or Living Trust represents your instructions about who will receive your assets when you pass away.  Without directions provided by you, Colorado will make these decisions on your behalf.  Every state has “intestacy” laws that distribute property in the absence of a Will or Living Trust.

Intestacy laws cannot possibly anticipate your priorities.  Instead, various family members receive assets according to a formula provided by the state – formulas that may not reflect your wishes and cannot include friends, charities or non-profit organizations important to you.  In addition, certain fees and expenses may apply (and reduce your estate), costs that would not apply if you had a valid Will.

Some people confuse the taxation of an estate and the distribution of its assets, concluding,”…I don’t need a will, my estate is not that big.”  But this confuses two separate issues.  Without a Will, Colorado will distribute your assets according to its intestacy laws – regardless of whether or not your estate is taxable.  A Will is your opportunity to decide how your assets will be distributed.  Everyone should have a valid Will or Living Trust in place.

If you would like to make a flexible estate gift to Dominican Sisters Home Health Agency, naming us in your Will or Living Trust could be the answer.  Steps to follow include:

1.   Contact your attorney to explain that you would like to create a Will or Living Trust.  If you have an otherwise valid Will in place, you can update it with a ‘codicil’ for a Will, or an amendment for a Living Trust.

2.   Explain that you would like to include Dominican Sisters Home Health Agency for a specific dollar amount, and/or a percentage of your remaining estate.

3.  The Attorney will prepare the codicil or amendment, and present it to you for your signature.

For more information, please contact Donna Heath at dheath@dominicansisters.org or 303-322-1413, ext.22

Beneficiary Designation

Certain types of assets will pass to your heirs through Beneficiary Designations, and not through a Will or Living Trust.  These include assets held in an IRA or retirement account, or proceeds from life insurance policies.  Since a Will or Living Trust cannot be used, it is important to keep your Beneficiary Designations up-to-date, accounting for any changes to your circumstances (e.g., the birth of a child, the death of a beneficiary, a change in financial status).

To update your beneficiaries, simply contact the company (life insurance or IRA custodian) or your employer’s Human Resources department (workplace retirement account) to request a Beneficiary Change form. Simply complete and return the form.  You should receive written confirmation of your changes shortly thereafter.

If you would like to make a flexible estate gift to Dominican Sisters Home Health Agency, naming us as a beneficiary could be the answer.  Steps to follow include:

1.   Review your existing Beneficiary Designations.

2.   Determine the gift you would like to make (percentage or specific dollar amount), considering its impact on your overall estate plan.

3.   Contact your insurance company, IRA custodian or employer’s human resources department to request a Beneficiary Change form.

4.   Gifts should be made to Dominican Sisters Home Health Agency of Denver, Inc., located at 2501 Gaylord Street, Colorado, 80205, a Colorado non-profit corporation.

5.   Complete and return the form.

It is good practice to review your Beneficiary Designations every two years to confirm their appropriateness.

For more information, please contact Donna Heath at dheath@dominicansisters.org or 303-322-1413, ext. 22.

There are other ways of leaving your legacy that are quite involved.  Please know that we have information in print and formats to help clarify your estate planning options.  Materials can be requested at any time by contacting Donna Heath at dheath@dominicansisters.org or 303-322-1413, ext. 22.

In addition, we would be happy to visit with you to help you explore your options.  Please know there is never any obligation to complete a gift.
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