Giving to HSS

Honoring a Mentor

Dr. DinesInspired by fond memories of Philip D. Wilson, Jr., MD, benefactors David and Judy Dines have joined The Wilson Society by naming Hospital for Special Surgery in their wills. "Dr. Wilson was my mentor for many years and played a significant role in the course of my career," says Dr. Dines, an Assistant Attending Orthopedic Surgeon at HSS. "My relationship with him is ultimately what moved me and my wife to honor him in this way."

After graduating from New Jersey Medical School in 1974, Dr. Dines completed a residency program at Special Surgery in 1979. Since then, he has had a string of remarkable successes, including the development of the first modular prosthetic shoulder implant in 1989, an accomplishment he shared with HSS's former Surgeon-In-Chief Russell F. Warren, MD.

"At HSS, you're not just another physician," he says, "you're part of a very special family." Dr. Dines, a world-renowned shoulder specialist at HSS, credits Dr. Wilson with shaping his successful career.

"Dr. Wilson truly believes in leading by example," he said. Recalling his days as a resident at HSS, he smiled and said, "I can still picture Dr. Wilson waiting for me and the other residents at the crack of dawn to begin our rounds-not because he had to be there, but because he wanted to be. He was dedicated to us and to his role as our director, and that was quite inspiring."

A former team physician for the New York Mets, Dr. Dines is current team physician for the U.S. Open and Davis Cup Team and Medical Director of the Association of Tennis Professionals. He serves as Chairman of Orthopedic Surgery and Program Director for Medical Residents at North Shore-Long Island Jewish Medical Center, as an Assistant Clinical Professor at Weill Medical College of Cornell University, and as a Clinical Professor of Orthopedic Surgery at The Albert Einstein College of Medicine.

Of his commitment to HSS, he said, "I want to know that there will continue to be improvements in musculoskeletal medicine-through research and education-because most people, at some point in their lifetime, will suffer from an illness or condition related to their muscles or bones. If there is a greater understanding of these conditions today, there will be even greater treatments and methods of prevention tomorrow. And these advances may only occur if there is support for-and belief in-the Hospital's cause. My wife and I believe in the cause at Special Surgery."

By naming HSS in their wills, Dr. and Mrs. Dines have honored Dr. Wilson and are helping to secure the future of musculoskeletal research, patient care, and education at Hospital for Special Surgery.

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A charitable bequest is one or two sentences in your will or living trust that leave to Hospital for Special Surgery 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 Hospital for Special Surgery, a nonprofit corporation currently located at 535 East 70th Street, New York, NY 10021, or its successor thereto, ______________ [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

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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 HSS 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.

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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 HSS 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 HSS 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 HSS where you agree to make a gift to HSS 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.

A codicil is a document that is used to make changes to a will that has already been created.

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