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IRA Bequest

IRA Bequest
Margaret recently retired from her job as a librarian. She had been an active volunteer and supporter of her favorite charity for many years. Margaret wondered how, with less income in retirement, she could continue to support her favorite charity.

Margaret: I made gifts every year when I was working. However, I recognize that with less income in retirement, I needed to reduce my expenses. I still want to support my favorite local charities.

Margaret contacted us and discovered that she could create a charitable bequest to us from her IRA. She would continue to own the IRA and receive IRA income during her life. When she passed away, the balance of her IRA would transfer to charity to help further our work.

Margaret contacted her IRA plan administrator and she completed the beneficiary designation form to name our organization as the secondary beneficiary of her IRA.

Margaret: Despite the fact that I have limited resources, I did not think that I would use all of the money in my IRA. I was so happy to learn that I could make a gift from my IRA without impacting my current income.

*Please note: The name and image above is representative of a typical donor and may or may not be an actual donor to our organization.


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This site is informational and educational in nature. It is not offering professional tax, legal, or accounting advice. For specific advice about the effect of any planning concept on your tax or financial situation or with your estate, please consult a qualified professional advisor.