Beneficiary Designations

Designating a charitable organization such as Hospice Foundation in your living trust or a plan which permit beneficiary designations such as an insurance policy, IRA, Keogh Plan, 401-K or other qualified retirement plan, can reduce estate taxes significantly and still benefit your loved ones.

Advantages of Beneficiary Designations

• They are revocable which means that you can change your mind at any time.
• They are easy to set up and change. Changes in revocable trusts can be done by a simple amendment. There is no need to change the whole trust.
• In the case of retirement plan balances or an insurance policy, designating the Hospice Foundation as a beneficiary can be achieved by contacting the insurance company or plan administrator and submitting a change of beneficiary form. Our legal name is “Central Coast Hospice Foundation.”
• The cost of the gift may be reduced substantially. There may be no estate tax on the gift. In the case of gifts of qualified retirement plan balances, income taxes may also be reduced or avoided. This could result in a gift that costs as little as 25 percent of the amount given. The Hospice Foundation will receive this money with no tax!

If you would like more information, please contact Lisa Bennett, Director of Fund Development, at (831) 333-9023 or send an email to Lisa Bennett.