Estate Planning

Good News! The IRA Charitable Rollover Passed!

Congress extended an excellent charitable planning opportunity for both 2008 and 2009. This act permits an IRA owner age 70½ or older to make a direct transfer to charity. The transfer may be up to $100,000 in one year and this IRA rollover opportunity exists for 2008 and year 2009. The IRA rollover is limited to $100,000 per IRA owner each year. A husband and wife may each transfer up to $100,000 from his or her personal IRA account to a qualified charity. If both husband and wife have substantial IRA accounts, then up to $200,000 per year may qualify for IRA rollovers.

Permitted IRA Rollover Gifts
IRA Rollover gifts may be made to public charities. IRA rollover gifts must be a direct transfer from a regular or Roth IRA to a public charity for the general purposes of that charity. It is permissible to make a transfer to a college or university for a particular scholarship fund. Similarly, a transfer to a relief organization for a specific disaster relief fund is also acceptable.

IRA Rollovers to Pay Pledges
Many tax advisors were concerned that IRA rollovers to pay pledges would be restricted but, since the IRA funds are owned by the IRA owner, they may be used to fulfill a legally-binding pledge.

IRA Rollover Qualifies for RMD
Each year, IRA owners age 70½ and older must take a required minimum distribution (RMD). The RMD in nearly all cases is calculated using the Uniform Table.

The $100,000 IRA charitable gifts provision opens up excellent gift opportunities. Everyone will appreciate the great new flexibility of IRA charitable gifts. Remember when considered a gift to charity, the taxable funds in and IRA are the best source and with congress extending the IRA Charitable Rollover there are major charitable giving opportunities ahead.

Please call The Office of Alumni & Development at 260.665.4114 to explore all of these gift benefits today.

What is planned giving?

The term planned giving refers to any charitable gift that is planned before it is made. These are popular due to the tax benefits, valuable income and income for life that donors can benefit from. There are many different gift vehicles available and the Tri ne University Development Department is ready to help you design a gift strategy that will meet your financial needs and the mission of Trine University. Planned gifts can take many forms. The manner in which you decide to support Trine is a matter of personal preference. The choice of the gift should always be best suited to the needs and desires of the donor.

Potential benefits of planned gifts include:

  • Increasing current income to oneself or others
  • Avoiding capital gains tax
  • Reducing one's income tax and or estate taxes
  • Easing the transfer of assets to family members or loved ones
  • Making significant, meaningful donations to the university

Future gifts assure the long-term growth of Trine University and provide you with tax advantages as well as personal satisfaction of supporting a cause you believe in. 

For more information, or to discuss your own gifting interests please contact:

Office of Alumni and Development
C.W. Sponsel Administration Center
Trine University
1 University Avenue
Angola, Indiana 46703-1764
260.665.4114
260.665.4495 fax
Email

 

 
 
 
Trine University, One University Avenue, Angola, Indiana 46703 | 800.347.4878 or 260.665.4100