Planned Gifts to Southampton Hospital FoundationEnrollment Form
Planned Giving Brochure
Many thoughtful friends and current donors have chosen to perpetuate their support for Stony Brook Southampton Hospital by including the Hospital in their estate plans. Such gifts provide a lasting legacy for the donor and help to ensure that our Hospital has the financial resources to provide compassionate, high quality care.
The Jean Remmel FitzSimmons Society was created to honor and recognize friends who include the Hospital in their estate plans. Jean Remmel FitzSimmons is a distinguished member of the Hospital family, an esteemed trustee whose name has come to be synonymous with the institution's annual fund raising appeal and Annual Summer Party.
Individuals who have notified Southampton Hospital Foundation that they have included the Hospital in their estate plan are honored members of the Jean Remmel FitzSimmons Society. Planned Gifts may include:
A bequest is a gift made through your will or living trust. It costs you nothing during your lifetime, and you can update or change it anytime. If you already have a will or living trust, you can amend it with a simple codicil to include a bequest to Southampton Hospital Foundation.
- Beneficiary Designation
If you've ever set up a retirement plan, insurance policy, bank or brokerage account, chances are you completed a beneficiary designation form to specify who will inherit those accounts and who gets what percent. What many people don't realize is that you can also name a charity like Southampton Hospital Foundation as a beneficiary. It's a very simple form and an easy way to be generous.
- Charitable Gift Annuity (CGA)
With a (CGA), you transfer cash or securities to Southampton Hospital Foundation, and in exchange you get a fixed income payment for life. This gift entitles you to an immediate charitable income tax deduction, and at the end of its term, the balance of the CGA comes to us. No wonder this is one of the most popular of all planned gifts - you give and get all at once!
- Charitable Remainder Trust
Here's another gift to us that pays you back. You transfer assets into a trust, and the trust pays a fixed or variable income to you and other beneficiaries you designate. Payments can be for life, or a term of up to 20 years. When the trust terminates, the remaining assets got to Southampton Hospital Foundation.
- Charitable Lead Trust
This one's basically a Charitable Remainder Trust in reverse. The trust pays income to Southampton Hospital Foundation for a set term. After the term, the trusts assets are passed back to you and/or other beneficiaries you designate.
- Gifts of Real Estate
When you deed property to Southampton Hospital Foundation, you receive an income tax charitable deduction for the value of the contribution. Plus, you can elect to make an outright donation, or use the value to fund one of the gifts above that pay you income.
- Retained Life Estate
With this gift, you transfer the deed to your property to Southampton Hospital Foundation and retain the right to use or live on the property for your lifetime. You agree to cover expenses and maintenance of the property, and you receive an immediate tax deduction based on your life expectancy and the property's current value.
Unrestricted Bequest Language
“I give, devise and bequeath to Southampton Hospital Foundation, a not-for-profit corporation located at 240 Meeting House Lane, Southampton, NY 11968, the sum of ($___ or __ % of my estate) to be used for the general purposes of Stony Brook Southampton Hospital as determined by its Board of Directors.”
Restricted Bequest Language
“I give, devise and bequeath to Southampton Hospital Foundation, a not-for-profit corporation located at 240 Meeting House Lane, Southampton, NY 11968, the sum of ($___ or __ % of my estate) to be used for (state purpose or program) at Stony Brook Southampton Hospital. If at any time in the judgment of the Board of Directors it is impossible or impractical to carry out this purpose, Southampton Hospital Foundation may use this bequest for such other purposes as shall be determined by the Board to be consistent with my interests and intentions.”
For more information on planning your legacy please contact:
Steven M. Bernstein
Chief Development Officer