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Planned Giving

Acting on Grateful

By Barbara Tuckner, Hammer Board of Directors and Family Member

Barbara Tuckner

Barbara Tuckner and her sister Janet

When families share their stories about Hammer and the services they provide for our loved ones, inevitably a family member will land on the word grateful. 

Grateful for the love and support direct care providers extend to our loved ones during good times and not so good times. Grateful for the smart and entrepreneurial way Hammer has parlayed its resources to care for the diverse needs of so many for a very long time. Grateful for an administration and board that nurtures a culture of care, innovation and philanthropy. Like many of you, I sometimes find it difficult to fully express how grateful my family is for Hammer.

My sister Janet's journey to Hammer began when she emerged from an eight-month coma after being stricken with spinal meningitis. Her return home at the age of 3 was both celebratory and stressful. Like most, we too cried, persevered and cheered her on as she re-learned how to walk, feed herself, use the bathroom and other daily tasks. We watched our parents navigate a very sparse and undeveloped patchwork of services for the developmentally disabled. When Janet found her first home at Hammer in 1978, she struggled to get used to her new surroundings, but Hammer was there to reinforce her skills and integrate her into this special community. Eventually, Janet would settle into her new life and develop lifelong friendships.

Our dad, Jerry Tuckner, joined the Hammer community in 1978 and was active on the board and finance committee. He poured his heart and soul into Hammer and along the way, managed to impress upon us how important it was to tangibly express our gratitude to Hammer. Hammer was critical in Janet's quality of life, but also in the lives for so many more people with developmental disabilities who needed extra support to live independently. It was Dad's passion to make sure Hammer would have a stable source of funding so it would be around much longer than he was.

Now, almost 40 years later, Janet is living comfortably in her own Hammer apartment with her hairy cat, Fresca, and is surrounded by countless pictures of friends and family. Like all of us, Janet's life is not perfect, but Hammer remains her constant and undaunted companion to bolster, cajole, affirm and pick up the pieces when necessary. To extend this system of support and love to Janet on a daily basis is nothing short of extraordinary.

The most tangible way I can express my gratitude to Hammer for its unyielding support of Janet and so many others they serve is to include Hammer in my estate plan. Being a member of the Alvina Hammer Heritage Planned Giving Society at Hammer is not only a charitable thing to do, it is smart too. Planned giving secures Hammer's future and makes it less vulnerable when economic times are tough or funding sources decline.

It is my hope that my gift will help sustain Hammer long after Janet and I are gone. It just seems like the right thing to do to show my gratitude

A charitable bequest is one or two sentences in your will or living trust that leave to Hammer 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 (written dollar amount, $numeric amount) or (written percent amount, $numeric amount of my estate) to Hammer Residences, Inc. Tax ID 410841103, a Minnesota corporation located in Wayzata, Minnesota to be used for its unrestricted use and purposes.

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 Hammer 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 Hammer 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 Hammer 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 Hammer where you agree to make a gift to Hammer 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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