CHOC Children's - Securing the Future - New Tax-Saving Opportunity for Donors Aged 70 1⁄2 or Older

CHOC Children's Publications

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Securing the Future is a bi-annual publication of the CHOC Foundation highlighting estate gifts. It features long-time donors and explains how their charitable gifts have supported the hospital through testamentary gifts, legacy planning, and retirement income planning.

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New Tax-Saving Opportunity for Donors Aged 70 1⁄2 or Older

IF YOU ARE 70 1⁄2 OR OLDER, recent legislation benefits you! Under the Pension Protection Act of 2006, you can make a lifetime gift using funds from your individual retirement account (IRA) without undesirable tax effects. Your gift can be accomplished simply, and will enable you to jump-start your legacy and witness the benefits of your generosity to CHOC. You may contribute funds this way if:

You are age 70 1⁄2 or older
The gift is not more than $100,000 per year
You make the gift on or before Dec. 31, 2007
You transfer funds directly from an IRA or Rollover IRA to a public charity, but not a supporting organization or donor advised fund

Individuals aged 70 1⁄2 or older can now use their IRA distributions to support public charities without tax complications.

HOW TO MAKE A GIFT
Contact your IRA custodian to transfer your desired gift amount to the charitable organization of your choice.

FOR MORE INFORMATION
It is wise to consult tax professionals if you are contemplating a gift under the new law. Please call our planned giving office at 714.532.8690 or your financial planner with any questions.