HELPING THE ONES THAT NEED IT MOST

By James Ponder

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Lanell and Harvey Price

Their love for children inspired Harvey and Lanell Price of Waco, Texas, to contribute 20 percent of the value of their estate to both Loma Linda University Children's Hospital (LLUCH) and Children's Medical Center (CMC) of Dallas.

Harvey explains that when victimized or abused children receive help early in life, they have a better chance of regaining their health. "Both Lanell and I feel very strongly that children born at-risk, or behind the eight ball, need an infusion of funds to give them a head start in life."

After noting that he and Lanell have both been personally and professionally involved with children in a medical setting, Harvey points out that the couple has a personal reason for championing the compassionate care of children: Lanell experienced abuse in a now-defunct orphanage from which she escaped, at the age of 15, in June 1955.

In explaining why they selected LLUCH, Harvey points out that he is both a graduate of the respiratory care program at LLU School of Allied Health Professions and a former employee of Loma Linda University Medical Center.

The couple met their first day of high school in Waco, Texas, a few months after Lanell escaped from the orphanage. They became good friends, eating lunch and hanging out together at every opportunity. They were so close that at one point, it seemed likely to others that they would one day marry. However, life took them in very different directions and the two lost contact with each other almost immediately after graduation.

Five decades later, they reunited after Harvey, who had been unable to attend the 50th reunion of their high school class, received a spiral notebook with biographies of his classmates, and was delighted to learn that Lanell was still living in a town about 100 miles from where they grew up.

Harvey initiated a friendship with Lanell by mail, email, and telephone, and discovered that they still shared many common interests. After a lengthy courtship, he and Lanell were married on May 23, 2013.

Today, Mr. and Mrs. Price are thankful to God for the life they enjoy together, and grateful to Loma Linda University Children's Hospital and Children Medical Center (of Dallas) for caring for at-risk children all over the world.

For more information on how to include LLUCH in your estate plans, please contact the Office of Planned Giving at 909-558-4553 or visit their website at www.llulegacy.org.

eBrochure Request Form

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A charitable bequest is one or two sentences in your will or living trust that leave to Loma Linda University Health 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 Loma Linda University Health, a nonprofit corporation currently located at (LegalAddress), 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 Loma Linda 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 Loma Linda 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 Loma Linda 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 Loma Linda where you agree to make a gift to Loma Linda 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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