Planned Giving

A Grandson’s Legacy

Jim and Diane Watson

Jim and Diane Watson

Fred Hutch File

Jim and Diane Watson built their life around family. Diane considers raising their three children — two girls and one boy — the highlight of her life. For Jim, a University of Washington graduate who forged a 30-year career in California at Ford Aerospace Corporation (later Lockheed Martin), “family was the reason for everything.”

After shepherding their children into adulthood, the Watsons eagerly anticipated caring for an equally close-knit third generation. At first it seemed to Diane and Jim that grandchildren would never come, until Karen, their second-born, gave birth to their much-loved and long-awaited first grandchild, Nigel. Nigel was born almost 18 years ago. Joy was fleeting.

“He was diagnosed with leukemia when he was 4 months old. He died when he was 8 months old. It was a very, very difficult time,” recalls Jim, whose voice still quivers when he remembers Nigel.

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800.279.1618

Email: plannedgiving@fredhutch.org

The Watsons carry Nigel in their hearts always, and they want to spare others the same pain they feel. Diane and Jim named Fred Hutch as the beneficiary of their charitable trust so that they could support pediatric leukemia research and be involved in starting new cures and better treatment options.

“Cancer is so devastating. It’s our great hope, really, that the Hutch will be able to mitigate so much of that, and find cures,” says Diane.

Now the proud grandparents of four more grandchildren born after Nigel died, Jim and Diane take great satisfaction from knowing their gift will help other children and grandchildren lead longer, healthier lives.

“I can’t think of a better way to leave a legacy than that,” says Jim.

Charitable Remainder Trusts

Discover a gift that gives back
If you would like to make a significant gift to advance lifesaving research at Fred Hutch and receive regular payments in return for you or a loved one, a charitable remainder trust may be the solution for you.

Our Planned Giving team is available to assist you without any obligation. We will thoroughly explain your giving options and provide sample calculations and gift agreements. We will work closely with your financial, legal and accounting advisors to help you tailor a gift that fits your personal financial situation and goals. Please contact us today at 206.667.3396, 800.279.1618 or at plannedgiving@fredhutch.org if you have any questions or would like additional information. We are happy to help you find the resources you need to help you plan.

A charitable bequest is one or two sentences in your will or living trust that leave to Fred Hutchinson Cancer Research Center a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

Bequest Language

"I give to Fred Hutchinson Cancer Research Center, a Washington nonprofit corporation located in Seattle, Washington, or its successor organization, the sum of $ _________ (or % of my estate), (or other personal property herein described) to be used for its general support and charitable purposes without restriction."

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to Fred Hutch or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support the mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to Fred Hutch as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to Fred Hutch as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and Fred Hutch where you agree to make a gift to Fred Hutch and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

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