Cat Adoption Team

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Leaving a bequest

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Planned gifts often offer financial and tax benefits to the donor and are among the most effective ways to ensure that CAT can continue to save the lives of our community’s homeless and injured cats and kittens each year.

Review the following seven ways to reduce your taxes by making a gift to Cat Adoption Team, and then talk to your tax adviser about financial and estate planning options that will ensure your family’s goals are being met.

The most common types of planned gifts are:

1.  Bequests: Through your Will or Living Trust, you can donate to CAT a fixed amount or a percentage of your estate. Recommended language to use in your will: “I give, devise, and bequeath the sum of $_____ to the Cat Adoption Team, a charitable organization located in Sherwood, Oregon (EIN#20-0773189).”

2.  The Pension Protection Act of 2006: If you are 70-and-one-half years or older, you can make an outright gift to CAT by transferring funds directly from your individual retirement account (IRA) without paying federal income taxes on the distribution. The gift must be made by the end of the year and will count towards your minimum required distribution. Please consult your tax adviser for current donation limits.

3.  Charitable Gift Annuities: A Cat Adoption Team charitable gift annuity will provide an immediate or deferred fixed-income stream for one or two people. This is an excellent way to increase retirement income or help support aging parents. Payout rates are based on age, and a portion of your payment will be tax-free. You will also receive a charitable income tax deduction in the year of the gift.

4.  Appreciated Assets: Donate stocks, bonds, or real estate to fund a planned gift and avoid substantial capital gains taxes on these assets. If you donate appreciated securities that you have owned for more than one year, you get a deduction for the full market value of the securities, even when it is greater than the amount you paid. You don’t have to declare the difference or the profit as income, a double benefit.

5.  Paid-Up Life Insurance Policies:  When your family responsibilities decrease and your policies are no longer critical to your family’s well-being, use them to support CAT’s work.

6.  Retirement Plans:  Tax-deferred IRA and 401K plans may be extremely vulnerable to high income and estate taxes. Naming the Cat Adoption Team as a beneficiary will reduce these taxes and allow you to leave other assets to heirs.

7.  Trusts: A charitable lead trust will generate funding for CAT until the time comes to transfer the remainder of the fund to your heirs. In the meantime, taxes can be minimized. A charitable remainder trust will provide lifetime income to you or your heirs, along with some tax benefits. When the income payout period ends, the remainder of the trust flows to the Cat Adoption Team.

Please consult with your independent financial, tax, or legal adviser for specific help with your particular situation, as CAT does not provide financial, tax, or legal advice.

For more information about these types of gifts or other giving opportunities, please contact CAT’s Communications & Development Manager at (503) 925 8903 or .(JavaScript must be enabled to view this email address), or speak directly with your tax adviser.

The Cat Adoption Team is a 501(c)(3) publicly supported charity. Donations are tax deductible to the fullest extent of the law. Cat Adoption Team’s Tax ID# is 20-0773189.