Estate Planning

The AKH Foundation has helped many donors realize their charitable giving goals by integrating their desires to “give something back to the community” into their estate plans. A wide range of charitable giving vehicles are available to help donors meet their philanthropic needs.

Some giving vehicles, like charitable gift annuities and charitable remainder unitrusts, provide donors with lifelong income streams.

Others, like gifts of life insurance, provide donors with ways to make substantial gifts while costing little or nothing out-of-pocket.

Still, other giving vehicles, such as IRA rollovers and donor advised funds, provide maximum tax incentives.

Whatever the donor’s needs and wishes, the AKH Foundation has the expertise to assist donors and their families in accomplishing their charitable giving goals.

As with all AKH Foundation donations, proceeds from planned gifts made through donor’s estate plans, are used right here in the Alle-Kiski Valley to help improve the health, wellness and quality of life of the region.

For information on how the following or other planned giving vehicles can benefit you, the Alle-Kiski Valley, and the AKH Foundation, please phone us at (724) 294-3157. All inquiries are maintained in the strictest confidence without any obligation or pressure whatsoever!

Charitable Gift Annuities are simple, irrevocable agreements between the AKH Foundation and the donor or donors.

In return for an irrevocable gift of at least $10,000 to the Foundation, the donor will receive guaranteed income for the remainder of their life, with much of the income tax-free through their life expectancy.
The donor qualifies for an immediate income tax deduction.
The agreement can include two lives so that the income continues for the remainder of both lives.
To increase the amount of the guaranteed income, the donor can choose to defer their income payments for any number of years, perhaps until their retirement or other life event.

Charitable Remainder Trusts (CRT) are more complicated to set up with the AKH Foundation but have more flexibility than charitable gift annuities.

CRTs can be established as either annuity trusts or unitrusts, with a number of different options.
Either way, the donor (or other designated beneficiary) will receive annual income paid to them for life or a set period of years. The amount of income is negotiable as long as it meets IRS requirements.
When funded by appreciated assets, which is often the case, there is no upfront capital gains tax on the appreciation.
The donor receives an immediate income tax deduction and possible reduction of other taxes.
At the end of the CRT, meaning the donor or designated beneficiary’s passing or the end of a set period of time (oftentimes 20-years) the funds remaining in the trust will fund a special project, program or service pre-designated by the donor.

Gifts of Life Insurance also provide the donor with many options. A few ways that life insurance can be used to support the AKH Foundation are listed below:

The AKH Foundation can be designated as the beneficiary of a donor’s life insurance policy that is provided through the donor’s employer at no cost to the donor.
Donor’s who may have purchased life insurance that is no longer needed, such as to ensure that a mortgage has been paid off, and the donors other obligations are taken care of, can redesignate the AKH Foundation as the beneficiary.
Donors can include the AKH Foundation as a beneficiary to any existing life insurance policy for just a portion of the benefit.
Donors can purchase a life insurance policy and transfer ownership to the AKH Foundation and continue to make the premium payments. In that case, the premium payments would be tax deductible. In this way, donors often can make larger gifts that by simply donation cash.

Donor Advised Funds have become very popular in recent years because they permit the donor to set parameters as to how their gifs are used by charities.

Gifts to donor advised fund are income tax deductible as along as they fit IRS requirements.
Donor advised funds may provide he donor with other tax advantages, such as relief from some capital gains taxes when funded by appreciated assets.
Donors and others are permitted to continue to add funds (gifts) to the donor advised fund once established.
Once the donor makes the contribution, the organization has legal control over it. However, the donor, or the donor’s representative, retains advisory privileges with respect to the distribution of funds and the investment of assets in the account.
Donor advised funds remain intact, for their stated purposes, after the donor’s passing, as long as monies remain in the fund.
The IRS does not permit Donor Advised Funds to be used for scholarships or for any use that benefits the donor and/or the donor’s family.

Charitable Bequests can be surprisingly simple to accomplish, although it’s important to work with an estate planning attorney. As with many giving vehicles, there are many options for donors to consider.

Donors can include the AKH Foundation as a contingent beneficiary that would happen only, for example, for some reason, the primary beneficiaries were no longer available.
Donors can designate only a fixed amount or percentage of their estate to the Foundation. They can also designate specific property to the AKH Foundation, such as stock, jewelry, automobiles, artwork, homes or other real property, etc.
Donors can specify how their bequest is used by the AKH Foundation.
Charitable bequests may decrease the amount of inheritance and death taxes that heirs may be liable for.

Gifts of Cash are often the easiest to make in support of the AKH Foundation.

Regardless of the charitable giving vehicles that individuals are considering, the AKH Foundation strongly suggest that potential donors seek competent legal and financial advice!

The Allegheny-Kiski Health foundation is registered as a 501 (c)(3) charitable organization with both Internal Revenue Service and the PA Department of State Bureau of Charitable Organizations.

The official registration and financial information of the Allegheny-Kiski Health Foundation may be obtained from the Pennsylvania Department of State by calling toll-free, within Pennsylvania, 1-800-732-0999.
Registration does not imply endorsement.