A change-maker
For more than 25 years, Dorothea Beckwith was there for families during some of their most worrisome days. As a volunteer in the intensive care unit at Legacy Meridian Park Medical Center, she signed visitors in so they could be with their loved one. “I felt I could help people by being there for them; sometimes, I even cried with them,” she recalls.
Dorothea has also supported Legacy Meridian Park’s Breast Health Center as a member of the Women of Meridian Park. This philanthropic group supports women in the South Metro area who are courageously living with breast cancer by providing comfort items, post-operative garments and preventive care.
Dorothea’s years of service with Legacy Meridian Park gave her many good friends, as well as a strong affinity for her community hospital. “It’s just a very comfortable place to be,” she says. “I remember I told a doctor, ‘This is my favorite hospital,’ and he said, ‘It’s mine, too.’”
After her husband, Tom, passed away, Dorothea knew she needed to make a new will to plan for her and her children’s futures. “I think everybody should have a will because it relieves a lot of stress on your family,” she remarks.
Dorothea’s fondness for Legacy Meridian Park sparked her desire to make a meaningful gift as part of her estate plan. By naming the Meridian Park Medical Foundation as the beneficiary of her individual retirement account (IRA), she is leaving a lasting legacy. “Quite frankly, I think it’s a very good way to give,” she states.
IRAs and 401(k)s may be heavily taxed if they transfer to individuals other than a spouse or partner. However, if the funds are directed to a nonprofit, such as Legacy Health, income and estate taxes on the distribution may receive a state and federal estate tax consideration. Adding a charity as a beneficiary is free and does not require an attorney. Just contact your IRA plan administrator.
“Legacy Meridian Park is a very important part of our community,” Dorothea explains. “I think everyone who possibly can should consider helping the hospital care for the community.”