Legacy Gifts

What difference do you hope to make? How do you want to be remembered by your family and community? If enhancing access to high-quality, safe, and accessible healthcare is something you care about, we can be your partner.

We hope you will consider leaving a portion of your estate to GRH Foundation. We would be honored to help you fulfill your goals. 

Bequest in a Will

Leaving us a gift in your will is one common way to complete your estate planning.

Types of Bequests:

• A bequest can be specific – you give us a specific asset, such as a defined cash amount, farmland, securities, or other property you own.
• A bequest can be a percentage – you give us a percent of the value of your total estate.
• A bequest can be residual – you can give us whatever is left over, after other beneficiaries you have named are taken care of.
• A bequest can be contingent – you can utilize us as a “Plan B” should you outlive other named beneficiaries.  

Sample Language: You may provide this sample language to an estate planning attorney:

I hereby give, devise, and bequeath _________________________ (description of property, defined cash amount, etc.) to Friends of Glencoe Area Health Center, Inc. a.k.a. Glencoe Regional Health Foundation, a nonprofit organization located at 1805 Hennepin Ave. N., Glencoe, MN 55336, Federal Tax ID #41-1625505, for the benefit of _________________.

Please contact us at 320-864-7065 to talk through the options for your gift and finalize this language based on the impact you wish to have. This step ensures we can understand, document, and honor your intentions.

Beneficiary Designations

The purpose of a Beneficiary Designation is to indicate who will receive an account upon your passing. Beneficiary Designations are commonly used with life insurance policies, Individual Retirement Accounts (IRAs), 401(k) accounts, and 403(b) accounts.

Using this asset to leave your legacy is a simple and low-cost option to include GRH Foundation in your planning. You have full access to the assets in the account for as long as you are alive, and after your passing, the assets transfer tax-free to GRH Foundation.

Simply contact your plan custodian and request a Change of Beneficiary Designation form. Typically, this form is also available at the custodian’s website. Complete, sign, and submit the form – after making several copies (one for your records and one for ours). 

TODs or PODs

This option is another simple and low-cost one. Usually, the accounts you have at your banking institution have the option for a transfer on death (TOD) or a payable on death (POD). It’s a simple form in which you name GRH Foundation as beneficiary.

You maintain ownership and control of the account during your lifetime, and the account will pass to us upon your death.

More Options for Legacy Giving

There are other options, too, and your trusted financial advisor or estate planning attorney can provide you more information based on your specific situation.

Let Us Help!

Contact us at 320-864-7065 or [email protected] as you begin thinking about this important step. We’re here to help. No pressure and no obligation.

With any of these legacy gift options, we encourage you to share your wishes with your loved ones, so that they can understand your goals and chosen partner(s).