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Ways to Give

  • Estate Planning

Estate Planning

Thompson & Associates works with nonprofit organizations, such as CentraCare Health, to help individuals understand their options, review their current plans and establish guiding principles for their estate plan. Just as the legacy you choose is exceptionally personal, the method of creating a planned gift is unique to each donor’s situation. Thompson & Associates LogoThere are many components to a personal estate plan. CentraCare Health has partnered with Thompson & Associates to provide you with expert charitable estate planning information and guidance that assures your legacy will be what you envision.

Gary Hargroves, FCEP, from Thompson & Associates, is available to meet with you one-on-one. Gary was the Director of Gift Planning for the University of Minnesota Medical Foundation and prior to that worked in fund development for Minnesota United Methodist Church. Gary has been an active member of the Minnesota Planned Giving Council serving as President in 1998, Annual Conference Chair in 1997 and additional board and committee assignments. Gary is a Fellow in Charitable Estate Planning from the Institute of Charitable Estate Planning. Gary was the first person to be awarded the Clinton A. Schroeder Distinguished Service Award.

An appointment with Gary consists of expertise:

  • from an unbiased third party,
  • at no charge to you,
  • with complete confidentiality,
  • that is personalized,
  • on your schedule
  • that provides a completed suggested course of action to share with your local personal advisor. 

If you have questions about making a planned gift or would like more information, contact CentraCare Health Foundation at 320-240-2810 or email foundation@centracare.com to schedule your local, confidential appointment with Gary.

What is an estate plan review?

The estate planning process assists you in completing an estate plan that facilitates the tax-wise transition of your assets to the people and organizations you care about after you pass away. The CentraCare Health Foundation offers a free estate planning process that focuses on clarifying family values and objectives — resulting in legacy fulfillment.

The process provides recommendations that match your goals and objectives, and shows you how to:

  • Direct assets in the most appropriate way to your heirs.
  • Reduce or eliminate estate and other transfer taxes.
  • Give a gift to your charities of choice, as desired.

What are the benefits?

The estate planning services are offered free and without obligation to give anything to charity. The planning representative does not sell products or draft documents. All information is kept strictly confidential and nothing is disclosed without your permission.

Reviewing your existing estate plan helps you understand what you have in place and anything that may need updating. With proper planning, taxes on hard-earned estates can be significantly reduced or even eliminated. You will learn how to use your assets in a way that will provide lasting happiness for yourself, your family and your community.

What is the process?

  1. Discover and articulate values. Identify and clarify your values and objectives surrounding the legacy you hope to leave.
  2. Create your statement of values and objectives. You will be provided a statement of values and objectives that helps in creating a plan that will distribute assets efficiently and effectively.
  3. Review your net worth statement. After your objectives are clarified, the planning representative reviews your assets and structures a detailed plan.
  4. Explain each planning tool. The technical aspects of the plan will be explained as well as why each tool is recommended and the options you have to fulfill your desires.
  5. Refine the plan. The plan is refined based on your observations and input as well as that of your professional advisors.
  6. Implement the plan. Work with your professional advisors to coordinate and complete the plan.

Who will I meet with?

CentraCare Health Foundation partners with Thompson & Associates to provide our benefactors and friends with a free estate planning service as a "thank you" for their loyal support. Thompson & Associates is a nationally-recognized charitable estate planning firm.

How will this process complement the work done with an estate planning attorney, accountant or advisor?

This is a planning process that is driven by your values. Once you have decided on a plan that meets your needs, your professional advisors (attorney, accountant, investment advisor and life insurance agent) draft and update your legal documents, provide investment advice and manage your assets. The planning representative seeks to work in partnership with your advisors on your behalf.

What to give

Retirement Plan Assets

Do you have money saved in an employee retirement plan, IRA or tax-sheltered annuity? Each of these retirement plan assets contains income that has yet to be taxed. Your beneficiaries will owe the income tax at your death, totaling up to 35 percent, which may be reason enough to consider giving your loved ones less heavily taxed assets and leaving your retirement plan assets to charity instead.

Savings Bonds

There's more than one way to turn your savings bonds into a generous donation while reducing the tax liability generated by these secure investments.

Life Insurance

Most of us think of life insurance as protection, especially for our loved ones. But it is also a powerful tool you can use to champion our work far into the future. Here's what you need to know.

Life Insurance Death Benefits

Your need for life insurance changes as time passes, making way for a new opportunity for its use. If you no longer need the coverage to protect your loved ones, consider changing your policy's beneficiary to support our work.

Cash: How to Give It Anytime

Making a donation of cash is as simple as writing a check or authorizing a charge on your credit card. From your standpoint, your contribution is no fuss, no bother. Find out how CentraCare Health Foundation can put your contribution to work without delay.

Cash: How to Give It After Your Lifetime

Making a donation of cash is as simple as updating your will. From your standpoint, your bequest is no fuss, no bother. Find out how CentraCare Health Foundation can put your contribution to work without delay.

Securities: How to Give Them Anytime

Stock that has increased in value is one of the most popular assets used for charitable giving, once it has been held for more than one year. Making a gift of securities to us offers you the chance to help our organization while realizing many important benefits for yourself.

Securities: What You Can Give After Your Lifetime

Stock that has increased in value is one of the most popular assets used for charitable giving, once it has been held for more than one year. Making a gift of securities to us offers you the chance to help our organization while realizing many important benefits for yourself.

Real Estate: What You Can Give Now

Your property opens the door to a unique giving opportunity. From townhomes to farmland, many types of real estate assets can be donated to qualified charitable organizations like ours. You'll be helping a good cause, enjoying tax benefits and potentially setting up a lifetime stream of income.

Real Estate: What You Can Give After Your Lifetime

Your property opens the door to a unique giving opportunity. From townhomes to farmland, many types of real estate assets can be donated to qualified charitable organizations like ours. You'll be helping a good cause, enjoying tax benefits and potentially saving money for your heirs.

Closely Held Stock: How to Give Anytime

A donation of your closely held stock can be a fine way for you to make a sizable charitable contribution while realizing valuable tax benefits.

Closely Held Stock: Give After Your Lifetime

A donation of your closely held stock can be a fine way for you to make a sizable charitable contribution while possibly avoiding capital gains taxes.

Tangible Personal Property

Many items of tangible personal property make suitable charitable gifts. The available tax deduction depends on whether or not the organization that receives the property will use it in a way that is related to its tax-exempt purpose.

Gift strategies

Bequests

Learn how to help others and CentraCare Health by using one of the most popular and simplest ways to make a gift.

Beneficiary Designations

Continue supporting our work even after your lifetime by naming us as a beneficiary of your retirement plan, life insurance or insurance annuity assets.

Charitable Gift Annuities

Read more about how to make a donation and, in turn, receive a fixed annuity payment each year for life. More

Charitable IRA Rollover

Under the extended charitable IRA legislation for 2012 and 2013, if you’re 70½ or older, you can make charitable gifts now to CentraCare Health Foundation using funds from your individual retirement accounts (IRAs) without undesirable tax effects.

Charitable Remainder Trusts

In the right circumstances, this plan can increase your income, reduce your taxes, unlock appreciated investments, rid you of investment worries and ultimately provide very important support.

Memorial and Honorary Gifts

If you have a family member or friend whose life has been touched by CentraCare Health Foundation, we hope you'll consider making a gift to us in honor of that person.

Endowed Gifts

Discover a powerful way to make a gift to us in your name or in the name of a loved one while realizing tax benefits for your kindness.

Give Your Home, But Live There for Life
Find out how you can make a gift to CentraCare Health Foundation of a remainder interest in your home, receive sizable tax benefits now and continue living in your home for the rest of your life.

Donor Advised Funds

Access the giving power of a private foundation without the expense or complexity.

Charitable Lead Trusts

Make a donation now while reducing the tax burden for your heirs in the future.

 

 

Connect With CentraCare

"This process motivated my husband and I to pull together our resources in a single document. Our planning associate did a great job of explaining in general terms what our options were without any pressure."

~
Cindy Melloy, MD, CentraCare Clinic - Women & Children