Planned Giving

Financial Advisor Takes Own Advice

Maxwells

Jeff and Ethel Maxwell

Fred Hutch File

A retired partner with regional CPA firm Moss Adams, Jeff Maxwell also volunteered to serve as chair on Fred Hutch's Planned Giving Advisory Committee and later became a member of the Center's Board of Trustees and Board of Ambassadors. He eventually found himself so compelled by the Hutch's work that he followed the advice he gives clients: carefully research, then remember the institution of his choice in his will. "I had done planned gifts work for other organizations before, but when I got to the Hutch, it was not only a situation where I was giving some assistance to the philanthropic efforts in general but I found myself really caught up in the mission of Fred Hutch," he said.

Maxwell strongly recommends that prospective donors seek out knowledgeable professionals to help with the details of a planned gift. "Don't try this at home," he said. "These are intricate and sometimes complex arrangements, and there are a number of attorneys, trust officers and CPAs who focus their practice in this area, as well as very highly skilled staff in the Hutch's development office to help people make these gifts."

"There can be some tremendous income tax advantages, too. Depending on the nature of the property that's being given and the potential income tax that might be generated if the property were sold, you can actually come out well ahead by making a planned gift of property rather than making an outright cash gift."

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Phone: 206.667.3396
800.279.1618

Email: plannedgiving@fredhutch.org

Perhaps best of all, Jeff and his wife Ethel saw that planned gifts may have a tendency to perpetuate itself through future generations. "We've included the Hutch in our estate plans for two primary reasons. First, it's important for us to know that the support for the Hutch that's so important to us will continue after we are gone," said the Maxwells, "And a charitable bequest or beneficiary designation makes a significant statement to our family of the 'Hutch's' value and importance to us, and hopefully sets an example that will encourage them to embrace philanthropy in their own life planning."

The Maxwell's choices have already impacted the way their children think about philanthropy — the next generation needed no urging to follow their father's advice.

Support Future Cures

Discover flexible ways to support lifesaving research

Gifts in your will or living trust or beneficiary designations are simple ways to support the future of our lifesaving work while still providing for your loved ones.

If you are interested in supporting Fred Hutch's lifesaving work, consider a gift through your estate. It is a simple but powerful way to make a lasting impact. Contact our Planned Giving team at 206.667.3396 or at plannedgiving@fredhutch.org today for details.

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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