Gifts by Beneficiary Designation

Gifts that Cost You Nothing Now

By simply signing your name, you can create a legacy that powers breakthrough research at Fred Hutch and will help cure cancer faster. With a gift in your will or trust, or by naming us as a beneficiary on one of your financial or investment accounts, you inspire the internationally renowned researchers at Fred Hutch to work with even greater passion and urgency.

Once you have provided for your loved ones, we hope you will consider making scientific achievement and success part of your life story through a legacy gift.

Making a legacy gift in your will or trust is one of the easiest and most popular ways to drive new breakthroughs in cancer research at Fred Hutch.

Here are the ways that most people like to make this lasting gift:

  • General bequest: Fred Hutch receives a specific amount of money, e.g., $10,000.
  • Specific bequest: Fred Hutch receives a specific piece of property, e.g., art, jewelry, shares of a particular stock or the cash in a bank account.
  • Residual bequest: Fred Hutch receives all or a percentage of the remainder of your estate after general and specific legacies have been fulfilled.
  • “Greater of” residuary bequest: Fred Hutch receives the greater of either a percentage of your estate or a specific dollar amount.
  • Contingent bequest: Fred Hutch receives a gift stated for other beneficiaries of your estate in the event of their prior passing.
  • Trust remainder: Fred Hutch receives all or a portion of the remaining principal left from a trust after the death of the surviving beneficiaries or after a specified term.


To turn your passion for curing cancer into a lasting legacy, contact us at 800.279.1618 or at plannedgiving@fredhutch.org for more information about legacy giving.

With a gift from your retirement plan, insurance plan or other assets, you support the groundbreaking discoveries and world-class scientists Fred Hutch is known for, and your gift has an impact that lasts for years to come.

What’s more, giving a significant gift like this is as simple as contacting the firm that holds your assets and asking them for a beneficiary form to fill out.


Retirement funds gift:

Many people choose to name Fred Hutch as a beneficiary of an IRA or other retirement fund to reduce taxes while advancing lifesaving cancer research. This can be one of the most tax-wise ways to make a legacy gift.

Benefits:

  • 100% of your gift will go toward cancer research. Since Fred Hutch is tax-exempt, we pay no taxes on this gift.
  • Avoid potential estate tax on retirement assets.
  • Avoid income tax for your heirs on retirement assets funded on a pre-tax basis.

To name Fred Hutch as a beneficiary of your retirement plan, contact your bank and ask for a change of beneficiary form. For more information on changing your beneficiary, click here.


Gift of a life insurance policy:

You may have a life insurance policy that has served its purpose and you no longer need it. If so, you can use it to fund a legacy gift for Fred Hutch to further our pioneering work to cure cancer faster. You can transfer ownership of the policy to Fred Hutch or name us as a beneficiary.

Transfer ownership: Giving a life insurance policy to Fred Hutch during your lifetime can help our mission in one of two ways. We can cash it in (assuming there is a build-up in value) and use the proceeds immediately towards our mission. Alternatively, it might make more sense to retain the policy until maturity. In that case, we would use the death proceeds to support our mission in the future. Either way, you are helping to advance the work of the internationally renowned scientists at Fred Hutch.

Because it is an irrevocable gift, you may receive an immediate tax deduction when you transfer the policy to Fred Hutch. For any continuing premium payments you make, you will receive a charitable deduction in the year of the payment.

Name us as a beneficiary: You can name Fred Hutch as a beneficiary of all or a portion of your life insurance policy. With this gift arrangement, Fred Hutch will receive the proceeds of your policy when you pass away. You can change your beneficiary at any time. However, this flexibility means you will not receive an income tax deduction. Instead, your estate will receive a charitable deduction, which may reduce your estate taxes.

Another option, perhaps when your family is young, is for you to name Fred Hutch as the contingent beneficiary. This allows you to make sure you have provided for your loved ones should you predecease them, while also potentially providing a legacy gift to Fred Hutch.

The gift is easy to arrange — you simply complete and sign a beneficiary designation form.


Savings bonds:

When you redeem savings bonds, you will owe income tax on the appreciation. So will the person who inherits them. You can eliminate the income tax on bonds you plan to redeem by donating them to Fred Hutch. Because Fred Hutch is tax-exempt, 100 percent of your gift of savings bonds will go to supporting our shared mission in the fight against cancer.

Benefits:

  • Reduce your income tax with a current gift.
  • Reduce income tax and possibly estate taxes for your loved ones.
  • Create your lasting legacy with Fred Hutch.

CDs, bank accounts, brokerage accounts and commercial annuities:

One of the easiest ways to leave a legacy gift for Fred Hutch is to name us as a beneficiary of a certificate of deposit, a checking or savings account, brokerage account or commercial annuity.

For more information on changing your beneficiary, click here.


Donor advised fund (DAF) residuals:

The contract you completed when you created your donor advised fund governs the final distribution of the contributions you made during your lifetime. We hope you will consider naming Fred Hutch as one of the final grantees of your fund.



To turn your passion for curing cancer into a lasting legacy, contact us at 800.279.1618 or at plannedgiving@fredhutch.org for more information about legacy giving.

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