Legacy and Planned Gifts
A gift to University Hospital in your will or trust, or by beneficiary designation, can help ensure a happier, healthier future for the Greater Newark community. Your contributions allow us to attract and retain the best and brightest medical professionals, invest in advanced diagnostic and treatment technology, maintain top-ranked facilities, and provide superior clinical and wellness programs to everyone who comes to us for medical care. You can designate your gift to support one of UH's world-class clinical programs.
Some types of planned gifts you may want to consider include:
BEQUESTS OR WILLS
A charitable bequest is one of the easiest ways you can leave a lasting impact on University Hospital. A bequest may be made in your will or trust directing a gift to University Hospital. Naming the hospital in a will, also known as a bequest, could provide tax estate benefits. Bequests of cash, securities, real estate or personal property (art or jewelry) can be designated as unrestricted or directed to a special area.
LIFE INCOME GIFTS
Life income gifts can take many forms, including charitable gift annuities or charitable remainder trusts. These gifts provide the donor (or person designated) with an annual income and possible tax benefits, while supporting the hospital.
CHARITABLE LEAD TRUSTS
Charitable lead trusts involve an annual gift to The Foundation for University Hospital for the lifetime of one or more individuals or for a fixed time period.
You can designate The Foundation for University Hospital as the beneficiary to a life insurance policy that may no longer be needed for its original purpose. You can also designate The Foundation for University Hospital as a partial, full or contingent beneficiary of your life insurance policy. You will continue to own and can make use of the policy during your lifetime. Your estate may benefit from an estate tax charitable deduction.
Gifts of real estate (land, investment property or home residence) help to support the hospital and may provide tax benefits for you.
RETAINED LIFE ESTATE
When you create a retained life estate, you deed your residence or vacation home to The Foundation for University Hospital, but retain the right to live in it for the rest of your life with no disruption to your living arrangements or cash flow. It may also reduce estate taxes by removing the property from your taxable estate.
Retirement accounts can be used as source of charitable giving in a variety of ways.
SAVINGS ACCOUNTS AND CERTIFICATE OF DEPOSITS
Funds in saving accounts and certificates of deposits can support The Foundation for University Hospital if the hospital is a joint owner of the account with rights of survivorship only.
If you are interested in helping shape the future of healthcare at University Hospital, consider establishing an Endowment. A cash or stock contribution of $25,000 or more to The Foundation for University Hospital can establish an endowment and guarantee future funds for the program most important to you at University Hospital. Annual income from your endowment will fund the program you select. You can choose if you want your endowment to be known by your name, or the name of a doctor you wish to honor, or the name of a loved one whom you choose to memorialize.
Endowments are permanent funds in which the principal is held and only the investment income is paid out annually. Endowment gifts provide long-term sources of funding for University Hospital because they support initiatives not just for one year, or even one generation, but in perpetuity. Endowment funds are invested prudently to ensure they can sustain current and future needs.
Benefits of Establishing an Endowment:
Serves as a permanent named tribute
Provides for future generations
Provides lasting stability for University Hospital faculty, resident, and student support
Endowment Support Areas:
Medical Staff Education
To design a gift that works best with your philanthropic wishes, we recommend you obtain professional counsel from an attorney who specializes in estate planning. We will work with you and your advisors to help you plan for tomorrow and receive maximum benefits today.
Please contact The Foundation for University Hospital's Planned Giving Department at (973) 972-1873 or email@example.com with questions or to request more information.