Estate & Planned Giving
Cradle of Hope is here to help you extend your giving while also being able to provide financially for loved ones. Be sure to talk with your loved ones (family, friends, children) so they understand your intentions and so they are not surprised when inheritances are distributed. You never know…your loved ones may admire your decisions and may even consider carrying on the tradition themselves.
You don’t need to be rich to realize your legacy and there are many options to choose from.
Donor Advised Fund
- Designate Cradle of Hope in your will. The amount you give won’t reduce your income taxes, but it could reduce your taxable estate, possibly increasing the amount you’ll be able to leave to your heirs.
- Donate your retirement account to Cradle of Hope Designate Cradle of Hope as the beneficiary on your account. Since Cradle of Hope is a tax exempt agency, Cradle of Hope would receive 100% of the account’s value. You could then leave non-retirement assets to your loved ones which don’t have the same income tax burdens.
- Make a “split-interest gift”. This may be of interest to you if you would like to donate assets to Cradle of Hope but keep some of the benefits of holding those assets. The donor opens and funds a trust in Cradle of Hope’s name and receives a charitable income tax deduction at the time of the transfer. If you decide to open a trust, you’ll keep some rights to the property and also reduce the value of his/her taxable estate. The donor may also be able to avoid capital gains on the assets transferred to the trust.
- Donor-Advised Fund. You can do this during your lifetime and as part of your estate and legacy planning. What you need to do is open this type of account with a tax-deductible contribution (appreciated securities, real estate, and cash) and then make grants to Cradle of Hope over time. To give beyond your lifetime, you have the option of making the account the beneficiary of a will, retirement account, and/or trust to help reduce your taxable estate.
- IRA Charitable Rollover gifting opportunity. The IRS now allows those who are at least 70 ½ years of age to gift up to $100,000 from their IRA directly to charities, such as Cradle of Hope, tax free.
For more information please call Cradle of Hope at (651) 636-3127. We would love to help you explore your options that result in saving a baby’s life and providing hope to a family in crisis.