Planned Gifts

The definition of a planned gift is one that uses one of the following methods:

Heritage Circle Membership

The Heritage Circle recognizes and honors individuals and families who, through their estate plans, have established a planned gift benefiting McLaren Greater Lansing Foundation. Through a planned gift, donors can experience the satisfaction of incorporating their own values, goals and visions with the hospital's future. These forward-thinking individuals are partners with us in planning for the future of health care in mid-Michigan. A Heritage Circle commitment provides McLaren Greater Lansing Foundation with the vital resources needed to fulfill our mission for future generations.

All donors who provide McLaren Greater Lansing Foundation with a signed Statement of Support indicating their future planned gift are eligible for recognition in the Heritage Circle. Your planned gift may also qualify you for recognition in one of the McLaren Greater Lansing Foundation's donor societies.

Explanation of Planned Gifts

Through a planned gift, donors can experience the satisfaction of incorporating their own values, goal and visions with McLaren Greater Lansing Foundation's future. These forward-thinking individuals are partners with us in planning for the future of healthcare in mid-Michigan. When you designate a planned gift, you become a member of the Heritage Club donor society of the Foundation. A Heritage Club commitment provides McLaren Greater Lansing Foundation with the vital resources needed to fulfill our mission for future generations. Below is a description of each type of planned gift:

Bequests

Through your will or personal trust, bequests can be of a specific dollar amount, a percentage of your estate or the balance of your estate after providing for loved ones. Charitable bequests enable you to retain your assets during your lifetime, while helping McLaren Greater Lansing Foundation in the future. Properly executed charitable bequests are an integral part of a comprehensive, tax-wise estate plan.

Charitable Remainder Unitrusts or Annuity Trusts

These trusts afford you the flexibility to designate a gift for McLaren Greater Lansing Foundation today, to retain an attractive income stream during your lifetime or the lifetime of another, or a set term of years, and to secure a current income tax deduction for the gift. Under these trusts, your gift asset is irrevocably transferred to a charitable trust that pays a specified income to you or your loved ones and distributes the trust assets to benefit McLaren Greater Lansing Foundation at the termination of the trust.

Charitable Lead Trusts

These trusts can effectively provide tax savings for you and your family or other heirs, while also preserving important family assets. Cash or securities are the usual types of assets transferred to a lead trust that pays income from the trust to McLaren Greater Lansing Foundation for a fixed or actuarial period of years. At the end of the specified time, the trust terminates and returns the remaining assets to you and the heirs of your choice such as your children and grandchildren.

Life Insurance

A gift of life insurance may be an affordable and flexible method to establish a planned gift. By purchasing a permanent life insurance policy that names McLaren Greater Lansing or the McLaren Greater Lansing Foundation as the owner and beneficiary, you may receive a charitable gift deduction for each premium payment. A currently owned, paid up policy allows you to receive a charitable gift deduction approximately equal to the cash surrender value when the policy is donated.

Retained Life Estate Agreements

A gift of your residence or farm can be completed today without giving up the use and enjoyment of your property during your lifetime. This type of gift is easy to complete and generates a significant current income tax deduction. You may continue to live in and enjoy the property as long as you wish while maintaining it. Property taxes and insurance remain the donor's responsibility.

Charitable Gift or Deferred Gift Annuities

These gift annuities consist of a simple contract between one or two donors and the McLaren Greater Lansing Foundation. In exchange for an irrevocable gift of cash or securities, the McLaren Greater Lansing Foundation will pay one or two annuitants a guaranteed income for life. The older the income beneficiary, the higher the annuity rate generating the annual income. Gifts of cash result in a portion of the guaranteed annual income being received tax free for the actuarial life of the annuity contract.

Suggested Language for Bequest Provisions

This language is intended to provide examples, not as legal advice. McLaren Greater Lansing Foundation recommends that you seek legal counsel regarding your personal circumstances, your wishes for your estate and the preparation of necessary documents.

Specific Request

"I give and devise to McLaren Greater Lansing Foundation, a nonprofit corporation,

Select one of the following clauses, either (a) or (b):

  1. the sum of ___________, (or)
  2. the following property: _______________,

Select one of the following clauses, either (i) or (ii):

  1. to be used for the benefit of McLaren Greater Lansing Foundation for the following purpose _______________________.
  2. to be used for McLaren Greater Lansing Foundation purposes, determined by the President and CEO's discretion."

Residual Bequest

"All (or _____%) of the residue of my estate, I give and devise to the McLaren Greater Lansing Foundation, a nonprofit corporation,

Select one of the following clauses, either (i) or (ii):

  1. to be used for the benefit of McLaren Greater Lansing Foundation for the following purpose ___________________.
  2. to be used for McLaren Greater Lansing Foundation purposes, determined at the President and CEO's discretion."

Specific suggested bequest language for a particular purpose can be prepared for you by contacting the Foundation.

Contact Us

McLaren Greater Lansing Foundation
401 W. Greenlawn Ave.
Lansing, Michigan 48910
Phone: (517) 975-7100
Fax: (517) 975-7110
Email: mglfoundation@mclaren.org