Gifts from a retirement plan or IRA are made by naming Saint Ursula Academy as a beneficiary after a donor's and/or spouse's lifetime. Retirement assets can also be transferred to a charitable remainder trust to benefit Saint Ursula Academy (see "Charitable Remainder Trust").
Gifts of retirement funds avoid estate and income taxes that would otherwise be paid if assets were distributed directly to family.
Remember you must be:
- 70 ½ or older
- The gift is $100,000 or less
- You transfer funds directly from an IRA
- You transfer the gift outright to one or more public charities.
For more information please consult your tax professional.