The New Year – Opportunities to Make a Difference

St. Joseph’s Regional Medical Center is at the heart of a community where other medical resources do not exist. It is the lifeblood for many and it can only be sustained adequately with charitable dollars. Founded by the Sisters of Charity of Saint Elizabeth, St. Joseph’s continues to rely on the good deeds of individuals to maintain its important, life-saving programs and services. As you consider the important role St. Joseph’s Regional Medical Center plays in your life and in the life of the community, we want to present to you a few thoughts that may inspire your gift planning this year.

Much of the legislation concerning charitable contributions passed in 2010 has a two year life span. We can anticipate significant changes to charitable deductions once 2012 comes to a close. To take advantage of some of the opportunities that are now available please consider these options:

• The low interest rate environment does not seem to be changing any time soon. Those on fixed income investments may want to consider a St. Joseph’s Charitable Gift Annuity. This gift plan will provide you with an attractive income stream for life and numerous tax benefits. You will be pleasantly surprised at how you can convert a low yielding bank CD or stock to an annuity with a gift to St. Joseph’s. Please contact us for your personalized projection. Sample rates include:
• Age 70 5.1%
• Age 75 5.8%
• Age 80 6.8%
• The charitable deduction limits provided to individuals will hold for 2012 barring Congressional action. Though it is hard to predict how Congress will act in an election year, the current limits on the value of charitable deductions will likely be intact until 2013. For those of you in higher tax brackets this could mean that the gift you are considering for St. Joseph’s should be accelerated to 2012.
• High estate tax exemptions are driving many people to consider revising their estate plans. As you do, you should be aware that charitable bequests are likely to be a benefit to your estate whatever the changes in the laws are at the end of this year. To leave a bequest to St. Joseph’s you may use the following language:
  I give and bequeath to St. Joseph’s Regional Medical Center Foundation, Paterson, New Jersey [or St. Joseph’s Children’s Hospital, Paterson, New Jersey; or St. Joseph’s Wayne Hospital, Wayne, New Jersey; or St. Vincent’s Nursing Home, Cedar Grove, New Jersey], the sum of $ (or specific asset or percent of the remainder of my estate) to be used for its general charitable purposes.”

For further information or to let us know that you have included St. Joseph’s in your estate plans please contact Liz Regula at 973.754.4885 or email regulae@sjhmc.org.

We look forward to helping you plan a gift for the health of St. Joseph’s and the community.