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Creating a Legacy - Do You Have a Large IRA that Continues to Grow?Legislation (Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, P.L. 111-312) enacted in December 2010 makes it possible for a donor to make a significant gift to United Way. Key provisions of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 apply to charitable giving for persons age 70 1/2 years old who are taking the required minimum distribution from a traditional or Roth IRA. This provision only applies to gifts from Individual Retirement Accounts.* Individuals can make gifts directly to a charity like United Way of up to $100,000 and not have to pay a tax on this gift. For couples, the amount is $200,000. The IRA gift provision is only extended for gifts completed by the end of 2011. This legislation represents an excellent opportunity to create a Legacy Gift with United Way’s endowment. For more information on how you can create a Legacy Gift with United Way, please contact Mark LeMaire, Vice-President of Legacy Giving, at 904.390.3234 or markl@uwnefl.org.
* This provision does not apply to gifts from 401(k) plans or other tax-favored retirement planning vehicles.
For more information, please contact Mark LeMaire, Vice President of Legacy Giving, at 904.390.3234 or markl@uwnefl.org
