IRA Charitable Rollover Provision

THE IRA CHARITABLE ROLLOVER PROVISION HAS BEEN EXTENDED!

As a result of recent legislation signed in to law, you can once again use your IRA to make a charitable gift to Caldwell College.

  • Funds must be transferred from your IRA directly to Caldwell College.
  • All you need to do is contact your IRA administrator to initiate the transfer.

MAXIMIZING GIVING WITH YOUR IRA

When you’re formalizing your estate plans, a typical primary goal is to direct as much as you can to family members. An IRA grows tax-free during your lifetime and because of that, it may be taxed heavily after you are deceased. It can be taxed twice – once as part of your estate and once as income to your beneficiary.

Rather than leave this heavily taxed asset to loved ones, you might want to consider using your IRA to accomplish your philanthropic goals. Your IRA’s full value will go to charity and it will NOT be taxed as part of your estate. This ultimately leaves more for your family.

When you are deciding your estate plans and determining which assets to leave to loved ones and which to give to charity, remember that your IRA may hold the answers you’re looking for. You can lower estate taxes, maximize giving to your family and increase your support to charities like Caldwell College.

For more information, call the Development Office at 973-618-3207 or email sdwyer@caldwell.edu.


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