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800 Meadows Road, Boca Raton, FL 33486 | 561.955.4142

A Good Life

Jerold Glassman

Through a gift of a charitable remainder unitrust, Jerold "Jerry" Glassman and his wife, Joan, are making a lasting impact on the patients in our care.

When his grandfather told 11-year-old Jerold "Jerry" Glassman at a temple fundraiser in Newark, "If you give to charity, you will have a good life," the boy immediately offered to donate his allowance. While his grandfather gently told him he should wait until he was older, Jerry never forgot this conversation.

Jerry became an attorney and specialized for over 50 years in employment and labor law. For more than 20 years, most recently in 2018, he was included in the list of "Best Lawyers in America", a peer-review source for legal referrals with its annual compilation of leading lawyers from across the nation.

As his success grew, he was increasingly able to help a number of non-profits, both as a donor and a volunteer. Initially, his activities were centered in the New Jersey area, as while Jerry and Joan have had a home in Florida for 33 years, they became full-time residents of Florida eight years ago, which was the impetus to significantly expanded their activities in this community as well.

Jerry became involved with the Boca Raton Regional Hospital as his knowledge of the Hospital grew and he and his family benefited from the skilled and compassionate care they received at the Hospital. Eventually, Jerry became a member of the Board where he also serves on Oversight and Ad hoc Committees.

Jerry and Joan's first major gift to Boca Raton Regional Hospital was to the Marcus Neuroscience Institute where they were part of the initial group of donors who joined Bernie and Bili Marcus in the capital campaign to build the premier institution of its type in the region. Jerry and Joan were inspired to give because of their long-time friendship and admiration for Bernie and Bili, as well as knowing the importance of this clinical area particularly for the health of older members of the community.

In addition to his service to Boca Raton Regional Hospital, Jerry is heavily involved with the Boca West community where he served on the board for many years and in 2013, became the new chairman of the board and CEO of Boca West Country Club, the top volunteer role in this community of 3,300 families.

Jerry and Joan's latest gift to the Hospital is an irrevocable charitable remainder unitrust (CRUT) funded initially with Home Depot stock. Jerry and Joan will receive a percentage of the Trust's asset value each year with the remainder going to Boca Raton Regional Hospital at their passing. "It is a win-win-win. We get an immediate tax benefit, income for life, our children will not have to pay the capital gains tax and the Hospital will receive additional resources for its mission. These types of instruments are particularly useful for older donors," says Jerry.

Jerry is looking forward to further expansion and progress of the Hospital and the value it will bring to the community and its residents. It is one of the reasons he is a member of the task force headed by Dick Schmidt, which is overseeing the search for a strategic partner for the Hospital. Jerry has been extremely impressed by the candidates. "I know that the partnership will help to move the Hospital to an even higher level of excellence, while preserving our warm, community-centered culture of care and giving."

You, like Jerry, can make a difference at the BRRH Foundation. To learn more about making a gift for the future, contact Michael Indiviglio at mindiviglio@baptisthealth.net or 561-955-4142.

A charitable bequest is one or two sentences in your will or living trust that leave to the Boca Raton Regional Hospital 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 give to the Boca Raton Regional Hospital Foundation, a nonprofit corporation currently located at 800 Meadows Road, Boca Raton, FL 33486, 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 the Boca Raton Regional Hospital Foundation 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 the Boca Raton Regional Hospital Foundation 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 the Boca Raton Regional Hospital Foundation 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 the Boca Raton Regional Hospital Foundation where you agree to make a gift to the Boca Raton Regional Hospital Foundation 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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