GIVE THROUGH A RETIREMENT PLAN
Giving through a retirement plan at age 70 ½ (by 12/31/19) or age
72 (after 1/1/20) or later, can help you meet your Required Minimum Distribution
while supporting the Livingston Healthcare Foundation. In order to do
so, a donor must use the Qualified Charitable Distribution in place of
the Required Minimum Distribution to realize a tax benefit. There are
details to be considered, so please consult with your own attorney and/or
tax advisor before you decide what method of giving is right for your
situation.
Dan and his wife Sally turned 70 ½ in 2019. They both have traditional
IRAs and are now required to take the Required Minimum Distribution from
their IRA accounts, annually. They don’t want the distribution to
increase their income because it will put them in a higher tax bracket;
and they are required to pay taxes on the distribution. Dan and Sally
decide to use a Qualified Charitable Distribution (QCD) in place of a
Required Minimum Distribution. This way they avoid paying extra taxes
and can contribute to the health care needs of future generations.
Gifts from a retirement plan at age 70 ½ or age 72 allow you to:
- Reduce or eliminate income and estate taxes
- Meet the Required Minimum Distribution without increasing your income
- Give up to $100,000/individual per year
- Give remaining tax-free assets to your heirs
For More Information
For more information on supporting Livingston Healthcare Foundation through
a planned gift, please contact Jessie Wilcox at 406.823.6256 or by email
at jessica.wilcox@LivingstonHealthCare.org. Livingston Healthcare Foundation
is a fully qualified 501(c)3 charitable organization under IRS regulations.
Your investment is tax-deductible to the fullest extent provided by law.