Retirement Accounts and Charitable Giving

Retirement accounts offer one of the most effective ways to make charitable gifts. Actually, two of the most effective ways. Charitable giving using Individual Retirement Accounts (IRAs) can be very tax efficient during your life, especially if you are over age 70 (70 1/2, actually, but let’s not quibble). And if you have reached your “required beginning date” for mandatory distributions, the power of lifetime gifts from your IRA is enhanced even further. IRAs and other kinds of retirement accounts also offer one of the most efficient ways to make gifts upon your death. Join us for a discussion of some of the specifics. And keep an open mind about how you might increase your charitable giving using these marvelous instruments. This entire month we have been focusing on charitable giving as part of your estate plan. Check out our podcasts on other kinds of charitable planning ideas, and the specifics of one local Tucson charity, Mission Garden. In our next episode, we’ll talk with Mission Garden’s Executive Director about your favorite charity’s favorite way to receive donations.