Gifts from your IRA, 401-K, or other retirement plan
Save taxes by making a current gift from your retirement account
In recent years, the IRS has permitted charitable gifts to be made from otherwise taxable IRA and other retirement plan distributions, provided the donor has reached age 70 ½, and that the distribution is made directly from the fund custodian to the charitable organization.
Please check with your tax advisor or Laura Carleton at 781-749-7565 ext 14, l.carleton@sscmusic.org for current regulations.
Make a bequest to avoid double taxation on retirement plan assets in your estate
Any assets that remain after your lifetime in most retirement accounts like conventional IRAs and 401-K plans are currently subject to double taxation, first as ordinary income, and then as part of your taxable estate.
You can avoid this tax exposure – and obtain a further tax deduction – by naming the Conservatory in your will as a beneficiary of the remainder of your retirement plan assets. Making a bequest in this manner offers a number of additional advantages.
Enduring
A bequest gives you the satisfaction of leaving a personal legacy – knowing that your gift will be a lasting statement of your belief in the Conservatory, and will benefit many future generations to come.
Revocable
Remember, you can revise your will at any time in the event of unexpected changes in your life circumstances.
And…You will be eligible for The Encore Society
Recently a group of dedicated Conservatory friends came together to found The Encore Society to encourage our donors to assure that their affection, appreciation, and support for the work of the Conservatory will continue in perpetuity, by remembering the Conservatory in their wills and estate plans.
Won’t you please consider following their forward-thinking example by making a provision in your will that makes it possible for the support you provide each year during your lifetime to endure in perpetual “encore” annual gifts from you?
To learn more about becoming an Encore Society member, please call Laura Carleton at 781-749-7565 ext 14, or send an email to l.carleton@sscmusic.org.