Establish YOUR Legacy
Why your gift matters to us?
Hospice Volunteers of Hancock County has been active since 1980 in serving those in our community with life limiting illness and their families. We are thankful to our donors and those who have left or are choosing to leave a lasting gift through Legacy Giving. Legacy gifts have a significant impact on our organization by providing a stable long-term source of funding that allows us to continue our mission well into the future, ensuring the impact of our work continues beyond the lifetimes of all of us, so we can be here for generations to come.
Large or small, the most meaningful gifts come from people like you who deeply care about the work we are doing and want to ensure we continue to care for patients and families of Hancock County well into the future. Legacy Gifts can be made in the form of money, securities, and property.
Have you already included us
in your Legacy Giving?
If you have named Hospice Volunteers of Hancock County in your will or trust, or as a beneficiary of an account or insurance policy, please let us know so we can ensure that your gift is used according to your wishes. We would also like to add you to our Hospice Volunteers of Hancock County Legacy Society list. If you prefer to remain anonymous, we will be sure to respect your wishes.
Ways to Give
It is important to talk with your financial advisor regarding the many ways you can leave a legacy gift to determine the best option for you. These are some options to help you think of the many ways that you can give. We are happy you are exploring this option.
Bequests – Gifts Left from your Will or Estate
A charitable bequest is made from your will or estate. This type of gift is in reach for all of us and it is a way to support our mission and make a lasting statement about what matters most to you.
Providing for our organization in your will or trust will not cost a penny during your lifetime. You will have complete control over your assets, and you can change your gift at any time.
After your lifetime, if your estate is subject to an estate tax, your gift is entitled to an estate tax charitable deduction for the gifts at full value. At the time of your final act of generosity, we will hold your legacy in the highest esteem.
You can indicate a percentage or specific amount to go to Hospice Volunteers of Hancock County. Your assets remain in your control during your lifetime. You can modify your gift to address changing circumstances. Under current tax law, there is no upper limit on the estate tax deduction for your charitable bequests.
Gifts of Real Estate
Donate a valuable asset in exchange for tax benefits and possibly an income stream for you and/or your loved ones. You could deed your home, vacation home, undeveloped property, or commercial building to Hospice Volunteers of Hancock County. HVHC may use the property or sell it and use the proceeds.
You receive an income tax deduction for the fair market value of the real estate asset and pay no capital gains tax on the transfer. You can direct the proceeds from your fit to the overall mission of Hospice Volunteers of Hancock County.
- Insurance, Retirement Account or other Beneficiary Designation
- Another way to leave a Legacy Gift is by designating Hospice Volunteers of Hancock County as a beneficiary of a life insurance policy or retirement account. It is not enough to put this into your will as additional forms need to be completed with your insurance or retirement company.
Gifts of Stock or Appreciated Securities
Making a charitable contribution of stocks, bonds, and/or mutual funds allows you to give a tax-efficient gift. To receive a deduction for the current year, the stock transfer must be completed by December 31.
When you give the gift of stock you receive an immediate income tax deduction for the fair market value of the securities on the date of transfer. You pay no capital gains tax on the transfer when the stock is sold.
Giving from Your 401k or IRA Retirement Plan
You can name Hospice Volunteers of Hancock County as a beneficiary of your IRA, 401(k), or other qualified retirement plan. You will need to contact your plan administrator to list HVHC. If you choose to leave this type of gift, it is important to let us know as your plan administrator is not obligated to notify us.
You will continue to take regular lifetime withdrawals and maintain flexibility to change beneficiaries if your family’s needs change during your lifetime.
Insurance or Pension Beneficiary Designation
You can designate Hospice Volunteers of Hancock County as a beneficiary of a life insurance policy or retirement account. When the time comes, HVHC receives the proceeds.
Qualified Charitable Distribution (IRA Charitable Rollover)
Use your traditional IRA to make a “tax-free” gift to Hospice Volunteers of Hancock County. As you plan your required minimum distribution, consider using your IRA account to make the most of your charitable giving. You receive a tax benefit even if you take the standard deduction.
It is important to consider your tax situation before deciding whether to make a charitable contribution from your IRA. Be sure to share this gift plan with your financial advisor.
To qualify you must be 70 ½ years of age or older at the time of the gift. Distributions must be made directly from a traditional IRA account by your IRA administrator, and gifts must go directly to HVHC. Distributions to donor-advised funds do not qualify. Gifts from other retirement plans do not qualify.
IRA Qualified Charitable Distributions are excluded as gross income for federal income tax purposes on your IRS Form 1040. The gift counts toward your required minimum distribution for the year in which you made the gift.
Other Ways to Give
Memorial Gifts
Making a memorial gift to Hospice Volunteers of Hancock County is a wonderful way to remember and honor your loved one. When you make a memorial gift, we will notify the honoree’s family that a gift has been made, if we have their contact information. The amount of the gift is not disclosed to the honoree’s family. We will send you an acknowledgement letter for tax purposes.
You can donate online at hospiceofhancock.org/donate, call us directly at 207-667-2531 to donate by phone, or mail us a check (please be sure to let us know who this is in memory of).
If you are asking for gifts to be made in memory of your loved one, please contact us at 207-667-2531 or email [email protected] and provide us with the following information:
- Name of your loved one.
- Name of surviving family contact. The person we will notify by mail when gifts are received.
- Mailing address of this family contact.
We will notify your family contact of any gifts we receive and will provide you with the donor’s name and address should someone want to send a thank you note. Please note, the amount of the gift is not disclosed to the honoree’s family. Donors themselves also receive a thank you letter with a tax receipt
Recurring Gifts – Sustain the Programs You Care About
Recurring gifts are an easy way to give more by spreading your gift throughout the year. To set up a recurrent gift, click the link below to go directly to our donating screen. Select “recurring gift” for the gift type, fill out the frequency and dates you prefer. You can also call us directly at 207-667-2531, and we can take your information over the phone.
Bequest Language
Planning for the future and creating the legacy you wish to leave is one of the most effective ways to ensure a lasting impact. Making a gift in your will or living trust, known as a bequest, can guarantee that your legacy endures.
Below is suggested language to use when drafting your bequest.
Legal Language
Unrestricted Language
For an unrestricted gift that allows Hospice Volunteers of Hancock County to determine how to use the funds based on the most pressing needs, use the following language for your will and/or trust:
“I give to Hospice Volunteers of Hancock County, a 501c3 nonprofit organization, currently located at 14 McKenzie Ave., Ellsworth, ME 04605, or its successor thereto, ______________ (written amount or percentage of the estate or description of property) for its unrestricted charitable use and purpose.”
Restricted Language
“I give to Hospice Volunteers of Hancock County, a 501(c)(3) nonprofit organization, currently located at 14 McKenzie Ave., Ellsworth, ME 04605, or its successor thereto, _______________ (written amount or percentage of the estate or description of property). This gift should be used (state purpose) if and so long as Hospice Volunteers of Hancock County, determines that the need exists. If Hospice Volunteers of Hancock County shall determine at the outset or at a later time that the need does not exist, or no longer exists, or for some reason it is not possible (or prudent) to administer my gift as originally intended, then Hospice Volunteers of Hancock County, may, it its sole and uncontrolled discretion, direct the use of my bequest for a purpose related as closely as possible to that stated above.”
Next Steps
1. Contact Kathy Baillargeon, Executive Director, at 207-667-2531 or [email protected] for additional information or to chat more about the different options for including Hospice Volunteers of Hancock County in your will or trust.
2. Seek the advice of your financial or legal advisor.
3. If you include Hospice Volunteers of Hancock County in your plans, please use our legal name and federal tax ID.
Legal Name: Hospice Volunteers of Hancock County
Address: 14 McKenzie Ave., Ellsworth, ME 04605
Federal tax ID number: 01-0385020