You can create a lasting legacy for Denver area students in need by making a planned gift to Clothes To Kids of Denver. Your estate attorney or financial advisor can help you decide which of these planned gift methods is right for you.
By naming Clothes To Kids of Denver in your will or trust, you create a gift today that Clothes To Kids will receive when your estate is settled. Income tax will not be charged on the gift at that time. You can always change your bequest if your circumstances change.
Charitable IRA Distribution
If you are at least 70 ½ years old, you can give tax-free distributions to Clothes To Kids of Denver annually from your Individual Retirement Account (IRA).
Beneficiary Designation in Savings and Retirement Plans
You can name Clothes To Kids of Denver as a beneficiary of your savings or retirement plan such as 401(k), 457, 403(b) or IRA. No taxes will be taken from the distribution since Clothes To Kids is a charitable organization under IRC 501(c)(3).
You can name Clothes To Kids of Denver as a beneficiary of a new or existing life insurance policy.
Stock or Appreciated Assets
A publicly traded stock portfolio is one of some donors’ most valuable assets and may carry substantial appreciation over time. A contribution to Clothes To Kids of Denver of appreciated securities that you have held for more than one year is simple and entitles you to a double tax benefit: you receive a charitable deduction for the full current market value of the stock, and
you avoid paying capital gains tax on the appreciation.
Charitable Remainder Trust
Assets can be placed in trust for the eventual benefit of Clothes To Kids of Denver and, in the interim, the trust pays an income to you and/or your designated income beneficiaries.
For additional information about planned giving, please contact Valerie Lunka, executive director, at [email protected] or 303-681-5054.