Tana Tselepis, a longtime volunteer and current member of Tufts Medical Center's Board of Governors, recently made the decision to continue support beyond her lifetime by including the "Harry Tselepis Fund in Hematology/Oncology" at Tufts Medical Center in her estate plan by designating the Medical Center as a future beneficiary of a retirement plan. Tana felt very fortunate to have been able to create this fund in her father's name. "He would have said 'A fund for me, a bartender?' But, he would have been so proud." Tana is pleased that the great work the Medical Center's doctors, researchers and nurses do with 'Harry's Fund' will continue beyond her lifetime. "Including the Medical Center in my will was such an easy thing to do. I can't think of a more worthy place to support in this way."
Making my donation to Tufts Medical Center each year is one of the most rewarding things I do. I come from a very modest family. My dad was a bartender and my mother was bedridden for many years. After my mother passed away, my dad developed a chronic blood disorder that required constant hospitalization. He was a patient at Tufts Medical Center for 22 years. We always marveled at the wonderful care he received. The doctors, nurses, technicians et. al. were supportive and always informative. They treated him with dignity and encouragement. (To my surprise they even convinced him to eat carrots.) A number of years ago, I decided to start making donations to the Medical Center. We set up a fund in my dad's name and I make yearly donations. My money goes toward blood research—a most important endeavor—that will give many people quality lives.
—Tana E. Tselepis
The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.
A charitable bequest is one or two sentences in your will or living trust that leave to Tufts Medical Center and Floating Hospital for Children 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
"I give to Tufts Medical Center and Floating Hospital for Children, a nonprofit corporation currently located at 800 Washington Street, # 231, Boston, MA 02111, or its successor thereto, ______________ [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."
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 Tufts Medical Center and Floating Hospital for Children 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 our 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 Tufts Medical Center and Floating Hospital for Children 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 Tufts Medical Center and Floating Hospital for Children 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 Tufts Medical Center and Floating Hospital for Children where you agree to make a gift to Tufts Medical Center and Floating Hospital for Children 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.