Ideas on financial, estate and gift planning for friends of Rush University Medical Center Heritage Spring 2014 Having Fun While Helping Others Grateful Patient Supports Work in Women’s Cancers “Have fun. Help others.” How many of us can say we have four words we live by? But following a life-threatening event, these are the four words that came to Gay Luhrs Allen. These words came to define the grateful Rush patient’s zest for life and her commitment to philanthropy. Allen is a retired executive who previously headed up her own marketing research firm, a firm with the kind of client base whose names are splashed across boxes lined up in your pantry or sitting on your breakfast table. Her passions include animals, traveling — she’s been to so many foreign countries she’s lost count — and of course, helping others. Allen’s planned gift to Rush — a substantial bequest in support of research and treatment for women’s cancers — affords her Grateful patient and Rush Heritage the opportunity to pursue both of her missions in life. Society member Gay Luhrs Allen “Rush saved my life twice. Supporting the work Rush is doing in women’s cancers was an easy decision to make,” Allen said. “By making my gift as a bequest, I’m able to keep traveling around the world and have the comfort of knowing that assets are available to me if my health starts to fail or an unthinkable emergency happens. I can have fun but also take satisfaction in the knowledge that I’ll be helping others.” Just as Allen’s bequest will advance the important work of Rush’s physicians and other caregivers, your planned gift of any size or designation enables Rush to meet the critical health needs of patients, the Chicago community and beyond by providing the highest-quality patient care, research, health education and community outreach. “I believe in the people who cared for me at Rush, and I believe in the work that Rush is doing,” Allen said. “I hope my gift will help them save many lives, just as they saved mine.” Inside This Issue • Put Your Values Front and Center M • eet Our Staff • ractical Ways to Fulfill Your P A • ctions You Can Take Today Charitable Goals LOOK INSIDE for smart strategies to support Rush and secure your future. Put Your Values Front and Center Smart Strategies for Supporting Rush This Year Many people rely on legal or financial advisors Involve Your Family to assist them with preparing estate plans. The process of planning your estate is a time to clarify Professional advisors focus on the value of your and emphasize the values and legacy you wish to leave estate and the taxes it will eventually generate. behind. This is an excellent opportunity to discuss They recommend helpful strategies to reduce the these core values with your family. Together, you can tax bite, but little more than your net worth is determine what you believe are priorities in life and shared with them. Frequently, they don’t know how you want to make a lasting impact as a family. The much about your values and how you would like ability to discuss personal and family values and share to be remembered in your community. lifelong aspirations and meaningful experiences may even bring your family closer together. By focusing on what is most important to you and your family, your advisors can build a plan that reflects your values and goals, while putting your Share what is important to you. Specify how family’s financial security first. you want to be remembered by your family Share Your Goals With Professional Advisors and community. Discussing your personal and charitable values with your attorney, accountant or other Achieve the Best Outcome professional advisor may help establish long-term By focusing on what is most important to you and plans that are beneficial to you, your family and the your family, your advisors can build a plan that charitable organizations you care about. Professional reflects your values and goals, while putting your advisors are important allies in your estate planning. family’s financial security first. In addition to explaining the process, the impact of taxes and how probate works in your state, they For more information about the many can answer other questions and help you think options available to support Rush now or about the important people and charities you may through your estate, please contact Susan Sasvari want to consider. at (312) 942-3691 or email@example.com. Practical Ways to Fulfill Your Charitable Goals Financial security is your first priority, but even in an uncertain economic Did you know? You can remember climate, you can still realize your charitable goals. A testamentary Rush in your will or trust by simply commitment is an easy way to make a meaningful gift to Rush and does adding a few lines to your document. not interfere with your current or future financial needs. You retain The following general bequest control of your assets during your lifetime, and you can choose how language may be used to make an your estate is distributed. unrestricted gift to Rush: A bequest through your will. By adding a simple sentence to your I give, devise and bequeath to Rush will or trust, you can make a significant contribution to Rush without University Medical Center, an jeopardizing your financial security now or in the future. (See sidebar for Illinois not-for-profit corporation sample general bequest language.) having its principal offices in the City of Chicago, County of Cook, State Retirement plan account. Using retirement assets to make a gift to Rush of Illinois, the sum of $_______ is a tax-efficient way to distribute your estate. If left to family or heirs, (or XX percent of my estate; or the federal income taxes can greatly reduce the actual amount your heirs will rest, residue, and remainder of my receive. As a tax-exempt, not-for-profit organization, Rush will benefit estate) for its general educational and from the full amount of your gift. A simple beneficiary designation form, charitable purposes. available from your retirement plan’s provider, is all that you need to make a meaningful contribution to Rush. Contact us at (312) 942-3691 for Life insurance. You can make a powerful gift by naming Rush as the official language — targeted to your beneficiary of your existing life insurance policy. It is a payable-on-death own philanthropic interests — to contract that is handled outside of a will, and it is not subject to taxes, share with your attorney. probate fees and transfer costs. As with gifting a retirement account, a gift of life insurance does not necessitate updating your will or trust. Supporting Rush through your estate becomes easy by completing a simple beneficiary designation form. Please let us know if you have included Rush in your estate plans. In appreciation of your gift, we will make you a member of the Rush Heritage Society, a special group of friends who are supporting Rush’s future through their estate plans. Rush Heritage Society, Providing for Rush’s Future Thank you to the more than 200 members of the Rush Heritage Society. This giving society recognizes those who have invested in Rush’s future through a planned gift. RHS members’ generosity will leave a lasting legacy at Rush and make a tremendous impact on the people and programs responsible for delivering high-quality patient care and educating future generations of caregivers. Meet Our Staff Susan Sasvari is Rush’s new senior director positions in the gift planning program of gift planning. Sasvari brings more than and at Lerner Research Institute. Sasvari 10 years of experience in philanthropy received her MBA from the Weatherhead and gift planning. Over the past year, School of Management at Case Western Sasvari has worked on the major gifts Reserve University and also holds a team at Rush, assisting donors with their Certificate in Financial Planning from philanthropy to the cancer programs. DePaul University. She looks forward to helping supporters with their Sasvari came to Rush from the Cleveland philanthropic goals and planned gifts Susan Sasvari, Clinic, where she held several fundraising to Rush. Senior Director of Gift Planning Actions You Can Take Today 1 ) Return the enclosed survey to request our free Susan Sasvari must-have planning guides. Senior Director of Gift Planning Office of Philanthropy 2 ) Visit www.rush.edu/giving to learn more about Rush University Medical Center how you can make a difference at Rush. 1700 W. Van Buren St., Suite 250 Chicago, IL 60612-3244 3 ) Contact us at (312) 942-3691 if you have any Phone: (312) 942-3691 questions about supporting Rush’s future. Email: firstname.lastname@example.org If you wish to be removed from our fundraising mailing list, please contact Rush’s Office of Philanthropy by email at email@example.com, by phone at (312) 942-6830 or by mail at Office of Philanthropy, 1700 W. Van Buren St., Suite 250, Chicago, IL 60612. © The Stelter Company | The information in this publication is not intended as legal advice. For legal advice, please consult an attorney. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes include federal taxes only. State income/ estate taxes or state law may impact your results. Rush is a not-for-profit health care, education and research enterprise comprising Rush University Medical Center, Rush University, Rush Oak Park Hospital and Rush Health.