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Meet Our Donors

Compassion for Others Comes Full Circle

When Patty Wilson established the Margaret Mann Wilson Endowment Fund as part of a bequest from her living trust, she was honoring her family's name and their tradition of philanthropic support while preserving the memory of her beloved daughter.

Margaret Mann Wilson was the adopted daughter of Dr. Edwin B. and Patty Wilson. She was abandoned by a couple passing through Fort Worth, and the Wilson's adopted her at three months old. Facing myriad health concerns, including congenital heart and respiratory problems, Margaret was treated at the old Fort Worth Children's Hospital.

The Wilsons knew the importance of philanthropic giving, and Patty, being a registered nurse, understood the value of high-quality medical treatment and had many good memories of the compassionate care given to Margaret over her short fifteen years.

During their lifetimes, the Wilsons supported Cook Children's through their donor advised fund. After Edwin's death, Patty's nephew, Charlie McCall, was instrumental in helping her set up the Margaret Mann Wilson Endowment Fund to benefit the cardiology and pulmonology programs at Cook Children's Health Care System. Patty's nieces, Barbara McCall Anderson and Kathye Elizabeth McCall are advisors to the fund, helping Cook Children's to continue their aunt's legacy.

Charitable giving through a bequest often originates in a will or trust and can be made at any time. Determining your family values and placing philanthropic support there perpetuates those values well beyond your lifetime.

 

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A charitable bequest is one or two sentences in your will or living trust that leave to Cook Children's Health 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

"I, [name], of [city, state, ZIP], give, devise and bequeath to Cook Children's Medical Center [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 CCHF 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 CCHF 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 CCHF 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 CCHF where you agree to make a gift to CCHF 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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