Mineral Wells Index, Mineral Wells, TX

Local News

December 4, 2012

Consider a tax-saving gift to PPAF this holiday season

(Continued)

GIFTS OF REAL ESTATE

“A residence, vacation home, farm, acreage or vacant lot may have so appreciated in value through the years that its sale would mean a sizable capital gains tax. By making a year-end gift of this property instead, you would avoid the capital gains tax, and at the same time, receive a charitable deduction for the full fair market value of the property.”

GIFTS OF LIFE INSURANCE

“If you own a life insurance policy that is no longer needed, consider it as the perfect vehicle for a 2012 year-end charitable gift. To receive a charitable deduction, name Palo Pinto Area Foundation as both the owner and beneficiary of the policy. If the policy has a cash value, you can take a charitable deduction approximately equal to the cash value at the time of the gift.”

BEQUESTS

“While you’re considering your 2012 income tax savings, this may also be a good time to consider long-term tax planning. The federal estate tax can still save up to 55 percent of one’s estate at the time of death. That’s a higher penalty than the income tax! It pays to do some advance planning with your attorney and other professional advisors. We hope you will consider a charitable bequest in your will to benefit Palo Pinto General Hospital while you save estate tax dollars at the same time.”

TREE OF LIFE

“There is still yet another means to give and that is through the Area Foundation “Tree of Life.” This beautiful display is located on the wall as you enter the front entrance of the hospital. The tree is designed with different color leaves, acorns and stones. The stones represent a donation of $50,000 plus. Brass leaves represent $5,000 to $9,999, silver leaves represent $10,000 to $14,999, gold leaves represent $15,000 to $24,999 and acorns represent $25,000 to $49,999.”

“You’re not only leaving your contributions to ensure quality health care for your family and children, but your grandchildren and even great-grandchildren in future generations,” Brown said.

For more information, contact Brown at (940) 328-6419 or by e-mail at dbrown@ppgh.com.

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