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Planned Giving and Bequests

Planned gifts and bequests provide various means of giving to Clinica Msr. Oscar A. Romero through estate planning for the future. Such giving allows donors to take advantage of favorable state and federal tax laws and meet multiple financial goals while supporting the uninsured and underserved of Greater Los Angeles with healthcare, health education and advocacy. We invite you to consider some of the following deliberate forms of charitable giving.

 

Bequests

Bequests are a popular and easy way to make a planned gift by including Clinica Msr. Oscar A. Romero in your will or revocable living trust. A provision or amendment prepared by your attorney at the time you make or update your will or trust is all that is necessary. In addition to cash, you can bequeath securities, real estate, and other forms of personal property.

Life Insurance

Making a gift of life insurance entails naming Clinica Msr. Oscar A. Romero as a beneficiary or contingent beneficiary on your current policy. Any benefit Clinca Romero receives from your insurance will be excluded from your taxable estate. You can obtain an immediate income tax charitable deduction equivalent to either the policy’s cash surrender value or replacement value. If additional premiums are due, you can deduct those payments as charitable contributions each year.

Retirement Plans

Tax-deferred retirement plans, such as an IRA or 401(k), can be subjected to multiple layers of taxation if left to an individual other than a spouse. An option you may wish to consider is to name Clinica Msr. Oscar A. Romero as the beneficiary or contingent beneficiary of all or a specified percentage of your retirement plan and leave other, less-taxed assets to your heirs.

 

Charitable Gift Annuity

A Charitable Gift Annuity takes into consideration your own financial needs. In exchange for an irrevocable gift of cash or securities, Clinica Msr. Oscar A. Romero will provide you with a guaranteed annuity for life with a portion of the income tax-free. You will also receive an income tax charitable deduction in the year you establish the annuity.

 

Charitable Remainder Trust

A Charitable Remainder Trust provides you and/or other beneficiaries with income for life or a specified period of time and thereafter distributes the remaining assets to Clinica Msr. Oscar A. Romero. An immediate income tax charitable deduction is available for an amount equal to the present value of what Clinica Romero can be expected to receive when the trust ends.

For additional information on planned giving and bequests, please contact James Hoyne, Development Director, at 323-987-1030, ext. 1441, or developmentinfo@clinicaromero.com. All inquiries are confidential and without obligation.

The purpose of this web page is to provide information of a general nature only. Advice from your own legal and tax counsel should be sought when considering any gift arrangement.