Including Rutgers Cancer Institute of New Jersey in your financial and estate plans, may provide you current tax benefits and a legacy of support for a purpose important to you – winning the war on cancer. Often you can make a larger gift than you might have thought possible. If you would like more information about planned giving, call the Office of Gift Planning at 848-932-8808.
Rutgers Cancer Institute of New Jersey has been fortunate to receive legacy gifts from grateful patients, family members, and residents from New Jersey and beyond who care deeply about finding a cure for cancer, and providing the very best patient care until we succeed in eradicating this disease.
Individuals who have made a gift to the Cancer Institute of New Jersey through their estate plans, and who have informed the Cancer Institute, are welcomed as members of the Legacy Society.
BENEFITS OF MAKING A BEQUEST
- You continue to control your assets.
- Your bequest can be modified if your personal or financial situation changes. You can direct your bequest to benefit Rutgers Cancer Institute of New Jersey patient care and research programs in the future.
- You become a member of our Legacy Society.
WAYS TO MAKE A BEQUEST
A bequest is a simple, convenient way to make a difference. You may designate a specific asset, dollar amount, or percentage of your estate after taking care of family. A bequest won’t affect your current cash flow or assets. Best of all, your support for the Rutgers Cancer Institute of New Jersey will last far into the future, beyond your own lifetime.
More ways to use a bequest include:
Name the Rutgers Cancer Institute of New Jersey as a beneficiary of all or a portion of your retirement plan or life insurance policy
Leave a specific asset such as land, a second home, or stocks and bonds held in a brokerage account
- Create a charitable remainder trust to provide income for your spouse or loved ones, with the remainder going to the Rutgers Cancer Institute of New Jersey.
Please be advised it is important to consult with your attorney if you would like to make a bequest in your will.
SAMPLE BEQUEST LANGUAGE
I give, devise and bequeath to the Rutgers University Foundation for the Rutgers Cancer Institute of New Jersey [the sum of ______________________ dollars] [ ______________________ percent of my estate].
SAMPLE LANGUAGE FOR A CODICIL IN A WILL
I give, devise and bequeath to the Rutgers University Foundation for the Rutgers Cancer Institute of New Jersey [the sum of _______________________ dollars] [ _______________________ percent of my estate] as an addition to my will of _______________________ date.
SAMPLE BEQUEST OF A RESIDUARY ESTATE
All the rest, residue and remainder of my estate, both real and personal property of whatever kind and wheresoever situated, which I may own or have the right to dispose of at the time of my death, I give, devise and bequeath to the Rutgers University Foundation for the Rutgers Cancer Institute of New Jersey.
If you have made a bequest to the Cancer Institute of New Jersey in your estate plans, please let the Office of Gift Planning know at 848-932-8808.
GIFTS MADE THROUGH YOUR RETIREMENT PLAN
Retirement plans such as 401(k)s, 403(b)s, IRAs and other qualified retirement plans provide significant income during the lifetime of many retired persons. Many retirees are unaware how severely retirement plans are taxed when their estate passes to their family members or friends after their death. In some cases the tax can be as much as 70% of the plan! This knowledge often leads the owners of such plans to reconsider them as a new opportunity to fund a cause that is meaningful to them.
You can designate the Cancer Institute of New Jersey as the beneficiary of any remaining funds that you do not spend during your lifetime. This type of gift ensures that your estate receives a charitable deduction for the value of the remaining assets.
When making an estate plan and drafting a will, in all cases consult your own advisors. Our answers are general and are not intended to be specific in nature.