When You Consider the Use of IRAs for
Charitable Gifts at Death
Are You Seeing All the Issues?
Gifting IRAs to charity at death can make a lot of sense for many clients. Unlike other assets, the value of IRAs to their heirs may be significantly diminished by potential income taxes on withdrawals. Plus, a charitable deduction for the full value of IRAs may help reduce estate taxes. Or clients simply want to support charitable causes, as their own legacy.
But there are lots of tricks and traps when it comes to leaving IRAs to charity - - that, sadly, are overlooked by many estate planning professionals.
In order to give the best, most informed advice to your clients with IRAs, you need to know:
- What are the income tax traps for the client’s estate depending on how the testamentary IRA gift is structured?
- When does such a gift qualify - - or not qualify - - for the estate tax charitable deduction?
- How may state property laws adversely affect such a gift?
- What are the benefits of, and proper situation and method for using, testamentary IRA strategies such as:
- Charitable Remainder and Lead Trusts?
- Private Foundations?
- Donor Advised Funds?
Learn all this and more my joining us and nationally renowned CPA, Robert Keebler, for a straightforward 60-minute program “The Proper Use of IRAs for Charitable Gifts at Death”.