The Fulton-Tornow Society was established in recognition of two local citizens for their outstanding impact on the community and our health care system. This special group of people have chosen to create a meaningful legacy by including Scotland Memorial Foundation in their wills, revocable trust, or with other planned gifts. To become a member, review your Planned Giving options with your Financial Advisor.
A bequest is a wonderful way to express your gratitude for the care you or your family received at Scotland Memorial Hospital. You may designate Scotland Memorial Foundation as a beneficiary in your will for either a certain dollar amount, percentage of your estate or specific piece of property. Your gift may be restricted or unrestricted and will qualify for an estate tax charitable deduction.
Charitable Annuities and Charitable Remainder Trusts
Life income gifts allow donors to receive an income stream during their lifetime while directing important resources to Scotland Memorial Foundation. The principal remaining in the fund benefits Scotland Health Care System after your death. These very popular estate planning vehicles reduce taxable income in the year of the gift and minimize capital gains taxes.
Charitable Lead Trust
A charitable lead trust allows donors to make an annual gift to a charitable organization like Scotland Memorial Foundation during a fixed period of years, after which time the assets are distributed to other beneficiaries. The income tax, which is paid upon establishing the trust, is usually substantially lower than what would be due on the appreciated value of the trust upon its conclusion.
Gifts of Real Estate and Other Appreciated Assets
Similar to those benefits derived from gifts of securities, gifts of appreciated real estate, art and other assets often reap significant tax savings when given outright or in funding a charitable gift annuity or trust.