A Smart Gift to Leave to Foundations of MultiCare
We Can Receive Your Commercial Annuity Tax-Free
Banks and life insurance companies typically sell commercial annuities. They provide the owner with fixed or variable income based on commercial rates of return. Because commercial annuities are subject to income and estate taxes, and for larger estates, federal taxes, they are often considered among the best assets to leave to charity. The best way to give a commercial annuity in support of your favorite MultiCare foundation or program is to name us as beneficiary.
Upon withdrawal, a distribution from a commercial annuity will be subject to federal income tax and applicable state income tax. By naming us as beneficiary, MultiCare Health System can receive your commercial annuity completely tax-free and any assets contributed to Good Samaritan Foundation, Mary Bridge Children's Foundation, MultiCare Health Foundation or South King Health Foundation in this manner will result in a charitable deduction and help reduce any estate tax your estate might incur.
Making this gift is as simple as updating your beneficiary form with your bank or insurance company. You can designate us as the primary beneficiary for a percentage or specific amount. You can also make us the contingent beneficiary so that we will receive the balance of your policy only if your primary beneficiary doesn’t survive you.
Make Your Annual Gift Last Forever
Each year we rely on your gift, along with many others, to help us meet our goals and make a difference in the lives of others. To ensure that our programs and funding do not suffer, please take time now to consider leaving an endowed gift—a generous statement that will truly last forever.
|If your annual gift is:||Perpetuate it by giving:*|
*At a 4 percent endowment spending level, 25 times an annual gift amount equals an endowed perpetual gift.
Ready for Next Steps?
- Contact Frank Colarusso, Gift Planning Manager, at 253-403-1262 or firstname.lastname@example.org or Shelley Buck, Sr. Administrative Assistant, at 253-403-3093 or email@example.com for additional information on commercial annuities.
- Seek the advice of your financial or legal advisor. (Need an advisor? Look here for advisors familiar with MultiCare foundations and services.)
- If you include Good Samaritan Foundation, Mary Bridge Children's Foundation, MultiCare Health Foundation or South King Health Foundation in your plans, please refer to our sample bequest language and use our legal name and federal tax ID number.