Planning a legacy gift is a wonderful way to let your commitment to children reach well into the future. Not only does a legacy gift help us meet the needs of children who are fighting devastating illnesses like cancer and heart disease, it also provides hope for the countless others whose lives depend on scientific discovery. Your gift can make a real difference in the lives of children.
What You Can Give
Find out what type of assets make the best planned gifts. Learn about gifts of stock, retirement plan assets, life insurance and property.
Gifts of securities offer significant tax advantages and are easy to make. When you donate appreciated stock that you have owned for at least one year, you avoid tax on the gain and receive an income tax charitable deduction for the fully appreciated value.
Retirement plans and IRAs can be the most highly taxed assets in an estate. This is because individuals will pay income tax on distributions. However, since Nemours is a tax-exempt institution, ownership of the retirement assets can pass to Nemours without taxation. The full value of the assets benefit the children and families we serve.
You may support our work by naming Nemours as the beneficiary of all or a portion of a life insurance policy. If you make Nemours the owner as well as the beneficiary of the policy, you may receive current income tax benefits.
Donating real estate, such as a home, vacation property or farm, can be a highly effective giving strategy. You may make an outright gift of all or a portion of the property. Alternatively, you may use real estate to fund a trust paying you income for life. It is even possible to donate property but retain the right to use and enjoy it for the rest of your lifetime.
How to Give
Learn how to make a gift that provides tax benefits and even life income.
A gift in your will can help support the vital work of Nemours far into the future. With a bequest you can make a meaningful gift that costs you nothing during your lifetime. A specific bequest directs a dollar amount or specific assets such as stock or real estate to Nemours. With a residuary bequest, Nemours receives all or a percentage of the estate after specific gifts to other beneficiaries have been made. A contingent bequest provides for a gift to Nemours only if other contingencies, such as other individuals predeceasing you, occur.
Stories from Planned Giving Donors
- Their Joy and Legacy: Their youngest child's twenty-first birthday was the impetus for Anne and Rick Wright to revise their estate plans.
- Bequest - Hugh Durden: As Chairman of the Alfred I. duPont Testamentary Trust, he has been instrumental in making significant changes for a strong future.
- Giving to Help Others: Dan chose to support Nemours Children's Hospital with a bequest through his will.
If you are age 70½ or older you may transfer up to $100,000 to Nemours in 2013 and avoid tax on the distribution. The gift is not included in your taxable income, while helping meet your required minimum distribution from the account. To make an IRA Charitable Rollover gift, contact your IRA custodian and Nemours at (302) 651-4401.
You may donate stock, real estate or other assets to be invested in a trust paying you (and/or another) income for life. The income may be fixed or variable. At the end of the beneficiary's lifetime the trust balance, the "charitable remainder" benefits the children served by Nemours.
A Charitable Gift Annuity provides fixed income payments for up to two individuals who are at least 65. The annuity payment is based on the income recipient's age when the gift is made. After the beneficiary's death the remaining balance benefits Nemours patients.
Stories from Planned Giving Donors
Learn how others have made an impact through their acts of giving to our organization and others. Explore the many benefits of charitable gift planning.
Bequest: Their Joy and Legacy
Their youngest child's twenty-first birthday was the impetus for Anne and Rick Wright to revise their estate plans. "With both of our kids having reached their majority, it was time for a fresh look," says Anne.
Their plans include the future needs of their son and daughter, as well contributions for their church and other organizations. The Wrights also decided on a bequest to Nemours. "We wanted to act on our sentiments," says Rick. "It was in our hearts and in our heads."
Anne has served as Senior Director of Business Development at the Nemours/Alfred I. duPont Hospital for 15 years. When Anne, who worked as a pediatric oncology nurse, moved into home health care for medically fragile children, and later worked for a healthcare consulting company, joined Nemours, the Alfred I. duPont Hospital for Children was building a full range of pediatric subspecialty services. "It was a real intersection of my experience and skills," comments Anne. "It was such good fortune to have landed here."
Rick, who works in the medical/scientific field, reflects on what he has seen through Anne's experience. "The hospital is just such a remarkable place. It's hard to miss the compelling sense of purpose," he says. "A bequest gives us an opportunity to express gratitude for and joy in that mission. Why should Alfred I. duPont have all the fun of creating a legacy?"
"There will come a point where I don't go to work each day," muses Anne. "This bequest is a way for us to stay connected to the hospital and Nemours. This is not only my work, but our joy and legacy."
Bequest: Hugh Durden
Hugh Durden believes strongly in tradition, but also welcomes change. As Chairman of the Alfred I. duPont Testamentary Trust, which has Nemours as its only beneficiary, he has been instrumental in making significant changes for a strong future. He brings the same philosophy to planning a personal legacy to benefit Nemours.
Mr. Durden served as President for Corporate Services at Wachovia Bank, and served as the corporate trustee for the Alfred I. duPont Testamentary Trust. "I fell in love with the mission of Nemours and what it did," remarks Mr. Durden. I retired from Wachovia, but continued to represent the company on the Trust board," he says.
Mr. Durden has made careful plans to benefit the two organizations closest to his heart – Princeton University and Nemours. He established a charitable remainder trust for the benefit of Princeton where he now chairs the Planned Gifts Committee. And through his will, Nemours will receive a bequest – an unrestricted gift for the benefit of children.
"Most people don't want to contemplate their own death," he comments. "However, after taking care of the needs of my family, there are things that are very important to me and that I value. When you make a planned gift, it says to the organization, 'You are important to me.' I have devoted so much of my life to Nemours – there is no organization that holds greater significance for me," concludes Mr. Durden.
Bequest: Giving to Help Others
Dan Mundy has a simple but heartfelt philosophy. "I want to help take care of children who haven't had a chance," says the Orlando, resident.
Dan and his wife Jan own Balloons on the Run, a successful balloon decoration business she started in the early 1990s and he joined six years ago after a long career as an airline agent. "We probably provide balloons for half of the charitable events in the Orlando area because our prices are reasonable," he laughs. "It can get pretty hectic."
"I first learned about Nemours when I heard about the new hospital being built in Orlando," says Dan. "I attended an open house to find out more. There is nothing that deserves more support than kids who are ill, whether they have cancer, heart disease, or a chronic condition like diabetes or asthma."
Dan chose to support Nemours Children's Hospital with a bequest through his will. "I know that Jan and our two grown children will be comfortable – everything is in place. But I also wanted to have something in perpetuity to account for my time on earth," he remarks.
"During my days with the airline, I came to know an organization that brought children with life-threatening health conditions and their families to Orlando for a few days of fun." says Dan. "They had a desk in the terminal to welcome families when they arrived. I saw these children come through the airport each day and it made me realize what children and families go through when they are coping with cancer and other diseases."
"If I could make one wish come true through my gift to Nemours, it would be to extend children's lives, hopefully to adulthood, and help them be able to do things other kids do," says Dan.
Charitable Trust: Robison D. Harley, MD, PhD
Robison D. Harley, MD, PhD, the very first member of The Carillon Society, was a man of vision. He had a successful ophthalmic practice in Atlantic City, N.J.
Robison D. Harley, MD, PhD, the very first member of The Carillon Society, was a man of vision. He had a successful ophthalmic practice in Atlantic City, N.J., and traveled the world to treat diseases of the eye. Dr. Harley felt that his finest accomplishment was the training of generations of young physicians at both Temple University and St. Christopher's Hospital for Children, both in Philadelphia.
In 1975, Dr. Harley published Pediatric Ophthalmology. Now known as Harley's Pediatric Ophthalmology, the book went into its fifth printing in 2005 and is considered the premier reference in the field. Through his will, Dr. Harley established a charitable trust of $1.5M to endow the Robison D. Harley, MD Chair in Pediatric Ophthalmology at the Alfred I. duPont Hospital for Children and provide ongoing funding for research in molecular genetics.
In March of 2006, Dr. Harley was honored at a special ceremony investing Sharon S. Lehman, MD as the first Robison D. Harley, MD, Chair of Pediatric Ophthalmology at the Alfred I. duPont Hospital for Children. He died in January, 2007 at the age of 95.
The Carillon Society recognizes those who have ensured a bright future for our children's health by making a bequest or other planned gift. Like the Carillon, a landmark on the campus of the Nemours/Alfred I. duPont Hospital for Children, your gift will resonate through the years, helping bring the very best services to the children who need them most.
Your planned gift, whether a gift in your will, a life income gift, a gift of life insurance, etc., qualifies you for membership in the Carillon Society. We want to thank you. Please complete the Confidential Statement of Bequest Intention in order to share with us your gift commitment, in as much or as little detail as you wish.
We hope you will allow us to recognize you as a member of the Carillon Society. Your inclusion helps encourage others to join this important effort. As a member of the Carillon Society you will be included in the Nemours philanthropic family and invited to events designed to inspire and celebrate our common goal – ensuring a bright future for children's health.
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The information on this web page is not tax or legal advice. Please consult a tax planning professional for advice based on your personal circumstances.