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Linda and Ernie Mannerino


Their Planned Gift: Charitable Remainder Trust

Summer 2007

Le Bonheur Children's Medical Center has a rich history of support from individuals and families from all walks of life. While many support Le Bonheur with one-time or annual outright gifts, some look beyond the present and plan a gift that will benefit generations to come. This is what Memphians Linda and Ernie Mannerino did when they established a charitable trust and named Le Bonheur as a beneficiary. Thanks to their generosity and foresight, future generations of children will receive the best health care available.

"Le Bonheur is the greatest story never told," said Linda. "I knew absolutely nothing about Le Bonheur until I was asked by a friend to participate in a focus group for the hospital." Linda said she learned that other charities in Memphis receive much more publicity. "We felt the work that Le Bonheur does with children was just as important as that done by other charities," she said. "So, what began as a social luncheon for me turned into a life-changing event."

Having been blessed with two healthy daughters, Linda and Ernie felt the need to help families not as fortunate as they have been. After seeing the wide range of work done at Le Bonheur and the need for a new hospital, they wanted to be a part of it.

"My husband and I established a charitable remainder trust and we named Le Bonheur as a beneficiary. Soon after, I toured the hospital as a participant in the Le Bonheur 101 program, which afforded me an "inside" look at the hospital's daily activities. I saw firsthand the wonderful care patients receive and the genuine passion of the staff providing that care. This only validated our decision. We couldn't be more proud to support Le Bonheur."

The Mannerinos chose a charitable remainder trust because this gift option enabled them to provide future support for Le Bonheur while enjoying an immediate income stream and tax deduction for themselves.

"It is a win-win' situation for us," said Linda. "We were surprised at how easy the process is. I would encourage anyone considering a planned gift to work with their legal advisor and the staff of the Le Bonheur Foundation to ensure that the plan is set up correctly."

How a Charitable Remainder Trust Works

With a Charitable Remainder Trust, you can transfer cash, securities, real property, or other assets into the trust. A trustee manages the assets. The trust pays income for life or for a term of years to you and others you name. When the trust terminates, and if you have named Le Bonheur as the sole beneficiary or one of several charitable beneficiaries, the remaining assets in the trust are then transferred to the named charity or charities.
The benefits of a Charitable Remainder Trust are:

• Income for you and/or a loved one
• Avoidance of capital gains tax
• An income tax deduction

Avoidance of capital gains tax on an appreciated asset used to fund trust An immediate income tax deduction.

For additional information about a Charitable Remainder Trust, please contact Le Bonheur Foundation at 901-287-6308 or

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A charitable bequest is one or two sentences in your will or living trust that leave to Le Bonheur Children's Hospital 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 Le Bonheur Children's Hospital, a nonprofit corporation currently located at 850 Poplar Avenue, Memphis, TN 38105, 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 Le Bonheur Children's Hospital 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 Le Bonheur Children's Hospital 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 Le Bonheur Children's Hospital 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 Le Bonheur Children's Hospital where you agree to make a gift to Le Bonheur Children's Hospital 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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