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Former Candy Striper Leaves Legacy Gift

Janet ShapiroJanet Shapiro fondly remembers her days as a candy striper in the old Chilton building on Newark Pompton Turnpike while a student at Wayne Valley High School. This early exposure to helping others fueled her desire to leave the world a better place.

As this 64-year old longtime Wayne resident was approaching the end of her career as a Senior Real Estate Paralegal for Toys R Us, she started thinking about the impact her life would have. "I asked myself…what is the most meaningful way in which I can make a difference in the world?" says Janet.

After speaking with her attorney, the path became clear: she would make legacy gifts to several deserving organizations, including her local hospital, Chilton Medical Center.

"Chilton has served an important function in our community for so many years, and it has provided cutting-edge, innovative treatment for me personally as well as for my parents and family members," says Janet.

Janet had several reasons for leaving a portion of her estate to Chilton, including the desire to keep her community hospital as state-of-the-art as possible so that her friends, family and neighbors don't have to travel for their care.

"Going back and forth to the city for care puts a strain on an already stressful situation. I want my gift to help Chilton offer the same level of care and top-notch equipment as New York hospitals provide."

Although Janet has several family members to take care of after she's gone, she also understands the importance of designating a portion of her estate to philanthropy.

She says, "If people feel what I feel — which is a sense of gratitude for high quality care right in my own backyard — then there is always room to leave a percentage to organizations you care about. "

Most importantly, Janet felt that making a planned gift to Chilton would keep the hospital standing strong for years to come.

"I know I won't see the benefit of my gift in this lifetime, but I feel a responsibility to pay it forward and ensure future generations have the same opportunity for excellent health care that I was fortunate enough to have. Good health care comes at a cost, and Chilton needs people to go above and beyond so that it can advance as health care advances."

If you would like to join Janet in going "above and beyond" for Chilton, make a bequest TODAY and give a gift with lasting impact. Bequests are popular among our donors because they provide a sense of control and allow donors to give back without interrupting cash-flow. By simply letting us know about your "intention" to give a bequest, you will be enrolled in our Legacy Circle, which offers members courtesy amenities when hospitalized, invitations to an annual luncheon and information regarding financial seminars. For more information or to discuss a planned gift, please contact Russell Miller at 973-831-5363 or russell.miller@atlantichealth.org.

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Information contained herein was accurate at the time of posting. 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. California residents: 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. Oklahoma residents: 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. South Dakota residents: 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 Chilton Medical Center Foundation 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

 Bequest Language

"I, [name], of [city, state, ZIP] hereby give, devise and bequeath to Chilton Medical Center and Chilton Medical Center Foundation which has its principal offices at 97 West Parkway, Pompton Plains, New Jersey, the sum or $______, which is to be added to the endowment for the Chilton Medical Center and Chilton Medical Center Foundation."

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 Chilton 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 Chilton 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 Chilton 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 Chilton where you agree to make a gift to Chilton 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.
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