CRAN Legacy Gifts
Your planned gift to the Cat Rescue and Adoption Network (CRAN) endowment fund will provide a lasting presence for generations to come.
Planned Giving Options
There are a number of ways to create your own legacy with a charitable planned gift to CRAN:
- Charitable Remainder Trust
- Gift of IRA, retirement account assets
- Gift through Oregon Community Fund
You can make a bequest at any age by:
- Making a simple addition (codicil) to your existing will
- Writing a new will
- Naming CRAN as the beneficiary of your IRA, retirement account or life insurance policy
You can choose to give a:
- Specific dollar amount
- Percentage of your estate
- Specific asset
- Remainder after distributions to other beneficiaries
Planned Gift Benefits
Leaving a gift is a way to leave a legacy to support things that are important to you after your death. In addition, you may accrue these additional benefits:
- Tax savings
- Increase in spendable income
- Income for other individuals you name
- Solutions for estate–giving and tax issues; for example:
- A bequest saves your family from high estate taxes: you can take an estate tax deduction of 100% of the value of the gift
- A bequest of retirement plan assets passes to charities free of estate and income taxes and can reduce the value of your estate and ensure that more funding goes to support charity work.
Bequests are easy to arrange and are flexible; that is, they can be modified—even revoked—if circumstances or needs change. Best of all, your current lifestyle will not be affected in any way.
Setting Up a Bequest
Following is suggested language as you work with your attorney on your bequest to CRAN:
Sample Bequest Language
I give, devise and bequeath _____________ (a specific dollar amount or percentage of the residue of my estate) to Cat Rescue and Adoption Network, fully incorporated under the laws of the State of Oregon. I direct this gift to be used to support (specify general programs or endowment or a combination of both) where the need is greatest.
Giving Through IRA / Retirement Plans
You may name CRAN as a beneficiary of your IRA or other qualified retirement benefits. Donors should consult with their tax advisor regarding the tax benefits of such gifts. Making a charitable gift from your retirement plan is easy and should not cost you any attorney fees. Simply request a change of beneficiary form from your plan administrator.
Naming CRAN as the beneficiary of a qualified retirement plan asset such as a 401(k), 403(b), IRA, Keogh or profit-sharing pension plan will accomplish a charitable goal while realizing significant tax savings. It can be costly to pass such assets on to heirs because of heavy tax consequences. By naming CRAN as a beneficiary of a retirement plan, the donor maintains complete control over the asset while living, but at the donor’s death the plan passes to support CRAN free of both estate and income taxes.
Giving Through Oregon Community Foundation (OCF)
If you have a account with OCF you can directly donate to CRAN by asking your OCF fund manager to send funds to CRAN as an immediate directed donation, or you can specify a legacy gift for CRAN. Please consult with your Fund manager.
It is always a good idea to seek the assistance from a knowledgeable attorney and/or your tax advisor.
Online – A no-cost will development option.