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 LaNette Jones at (406) 823-6291) or by email at lanette.jones@LHCFoundation.org. Livingston Healthcare Foundation is a fully qualified 501(c)3 charitable organization under IRS regulations. Donations are tax-deductible to the fullest extent provided by law.