Below are ways you may support The Cabbage Patch in our work to profoundly change lives through estate planning.
Memorial Contributions
Ask your family or representative to request donations to The Cabbage Patch in your memory.
The funeral directors involved will usually ask for a memorial designation and will include it in the obituary and/or place contribution envelopes in the funeral home at visitation.
Gifts Through Wills
You can name The Cabbage Patch as a beneficiary in your will as a means of continued support.
The designation can be made to bequeath The Cabbage Patch money in a certain amount or percentage of your estate, or bequeath specific property such as securities or real estate. Of course, you can indicate that The Cabbage Patch is to receive a gift only after you provide for your family.
It is not necessary to rewrite your will to make a bequest to The Cabbage Patch. A simple amendment, or Codicil, often may suffice.
You do need to make sure that you provide your legal advisors with our correct legal name – The Cabbage Patch Settlement House, Inc.
Gifts Through Annuities or Charitable Remainder Trusts
A gift annuity or charitable remainder trust can provide a stream of income to you and/or a loved one for life, with remainder to The Cabbage Patch. There can be several favorable tax benefits, both in terms of reduced income taxes during your life and estate taxes at your death. Through these forms of giving, you may retain an income flow for life, benefit The Cabbage Patch, and receive favorable tax benefits.
Gifts Through Life Insurance or Retirement Funds
You can designate The Cabbage Patch as the beneficiary of a life insurance policy or your retirement fund.
Gifts Through Endowment Funds
Annual gifts are an important part of our annual support and allow us to reach out in Christian love to hundreds of children each year. Without this annual giving, we might not be able to provide our life-changing programs like camping, homework assistance or leadership development. Many of our supporters have created endowment funds for the benefit of The Cabbage Patch as a way of continuing their support long after death.
Please keep in mind that this is only a broad overview of a few options and that there are tax benefits that may apply to your particular circumstances. Further, tax laws may be revised from time to time.
Questions? Contact Jennifer Scott at (502) 753-4446.