Gift in your will
An excellent way for you to support IU Health's vision of a healthier Indiana is to include us in your estate plan. Making a gift through your estate plan allows you to continue to use your assets during your life. When you pass away, the full value of your gift will be transferred tax-free.
A gift through your will can provide IU Health with general support or address a specific healthcare cause that aligns with your philanthropic goals. IU Health plays a unique and indispensable role in Indiana's healthcare ecosystem-providing levels and types of care that no other health system in the state can offer. We also accept and care for the sickest patients from other hospitals across the state.
A will or a trust is the anchor of an estate plan. Including IU Health Foundation in your will is one of the easiest ways to establish a philanthropic legacy.
What are my options?
There are many options! The method you use to make a gift through your estate will depend on the types of assets you own and your other financial and family objectives.
Gifts of real estate, personal property, business interests, and cash can be made by way of a will, or even a simple codicil. Your attorney can assist you in preparing the necessary papers for you to complete the gift.
Other gifts made by way of your estate, such as those involving retirement assets, insurance policies, bank accounts, and stocks and bonds, are typically made by completing the appropriate beneficiary designation form.
Benefits of leaving a gift in your will
- It is generally a revocable gift, which means it can be changed or modified at any time.
- You can choose to designate your gift for a general or specific purpose so your gift will be used exactly as you intend.
- Gifts to IU Health Foundation are exempt from federal estate taxes. If you have a taxable estate, the estate tax charitable deduction may offset or eliminate federal estate taxes, resulting in a larger inheritance for your heirs.
- Your gift to IU Health Foundation will make a meaningful impact upon the future health of the state of Indiana.
Types of gifts made in a will
("Bequest" is simply the legal term used for a gift made through your will.)
- Specific Bequest - A specific bequest involves making a gift of a specific asset such as real estate, a car, other property, or a gift for a specific dollar amount. For example, you may wish to leave your home or $10,000 to IU Health
- Percentage Bequest - This type of specific bequest involves leaving a percentage of your overall estate to charity. For example, you might leave 10% of your estate to IU Health
- Residual Bequest - A residual bequest is made from what remains in an estate after the specific bequests have been paid. A common residual bequest involves leaving a percentage of the remaining estate to charity. For example, you may wish to leave 30% of the residue of your estate to IU Health
- Contingent Bequest - A contingent bequest is made to charity only if the purpose of the primary bequest cannot be met. For example, you could leave specific property, such as a vacation home, to a relative, but your will could provide that if the relative is not alive at the time of your death, the vacation home will go to IU Health
Helpful information for your attorney
We have some basic sample will language to assist you and your attorney.
Additional Estate Planning Information
Check below to find more practical information on planning your estate.
Estate Planning Video Library
Estate Planning Guide
Contact us
If you have any questions about making a gift from your estate plan, please contact us. We would be happy to assist you and answer any questions that you have.