When considering estate and planned giving, we recommend consulting with your financial adviser to determine how to best meet the needs of your family. With further questions, you can contact the Prairie Ridge Foundation Director at (920) 623-1370. In the meantime, we invite you to explore the resources below. Videos: What is Estate Planning and an Introduction to Wills and Trusts How to Skip Probate and Understanding the Use of Beneficiaries Giving Throughout Your Lifetime PDFs: Leave a Legacy - Ways of Giving Guide Estate Planning Checklist Types of planned giving include: Bequests and giving through wills: You can leave a lasting impact on your community's healthcare by remembering Prairie Ridge Health Foundation with a bequest in your will. Your bequest will qualify for an estate tax charitable deduction. To ensure that your bequest aligns with your wishes, we recommend consulting with your attorney and other advisers. Charitable lead trust: A charitable remainder trust is a valuable tool that can be used to benefit Prairie Ridge Health Foundation by creating a source of income that is paid to the hospital for a set number of years. After this period, your trust assets can be passed on to subsequent family generations. This approach is particularly useful if you have a sizable estate and would like to transfer wealth to your successors in a tax-advantaged manner. Living trusts: revocable and irrevocable: A Living Trust is designed to maintain ownership of your assets during your lifetime and distribute them to charitable institutions like Prairie Ridge Health Foundation after you pass away. It's important to note that an Irrevocable Living Trust cannot be revoked by its creator. Life insurance: You can make a meaningful contribution to Prairie Ridge Health Foundation by naming the hospital as the beneficiary of a life insurance policy. Retirement plans: If you have a pension, 401(k), 403(b), or IRA, you may be required to take out Required Minimum Distributions (RMDs) once you reach the age of 70 1/2. However, you can opt to donate this money to a qualified charitable organization, such as Prairie Ridge Health Foundation, tax-free. Charitable remainder annuity trust and gift annuity agreement: By setting up a charitable remainder trust or a charitable gift annuity, you can provide income to yourself or your beneficiary(ies) during your lifetime. Upon the passing of the last beneficiary, the principal amount is then transferred to Prairie Ridge Health Foundation. These types of gifts are particularly suitable for smaller donations. Pooled income fund: You can opt to purchase in a commingled trust that provides income to you or your beneficiary(ies) throughout your lifetime, with the principal eventually being transferred to Prairie Ridge Health Foundation after the death of the final beneficiary. Additionally, there are several other ways to make a planned gift, such as through a Real Estate Agreement, Endowment Funds, Real Estate, Life Insurance Endowment Program, or Appreciated Securities.