If you answer yes to any of the following questions, you may want to consider transferring assets from your IRA to make a qualifying charitable distribution through the Peninsula Community Foundation:
- Are you planning to leave a charitable legacy through your estate plan?
- Have you designated your favorite charity as beneficiary of retirement assets?
- Have your retirement savings and investment growth exceeded your expectations?
- Do you take the minimum distributions from your IRA but have adequate alternative sources of income?
- If you take greater distributions from your retirement plans, does doing so affect the amount of Social Security benefits that are taxed?
- Is there a special cause that you care about?
- Would you like to benefit your community with a permanent funding stream?
- Do you want to know your charitable gift will make the greatest impact?
To learn more about your options, call Michael Monteith at the Peninsula Community Foundation today at 757.327.0862.
(This legislation has created new charitable possibilities for IRAs, your estate and tax advisors must analyze your unique situation to determine alternative tax advantages with other assets and charitable giving options. You may avoid capital gains tax if you transfer appreciated stock, mutual funds or real estate to your community foundation. Gifts to Donor Advised Funds, Supporting Organizations and private foundations do not qualify for special charitable IRA transfers.)