You have worked hard and planned for your golden years of retirement. But did you know you can use your retirement assets to support you and your family, reduce federal taxes, and help secure Pass-A-Grille Beach Community Church U.C.C.’s (“PAGBCC”) legacy?
All it takes is some planning and support from your financial advisor.
1. Including PAGBCC in Your Will or Trust
• Your bequest will support the overall mission of PAGBCC or it can be directed towards a specific ministry.
• You either indicate that a percentage of the balance remaining in your estate or trust supports PAGBCC or to a specific
dollar amount.
Benefits…
• Your assets remain in your control during your lifetime.
• Modifications can be made to address changing circumstances.
• You are not being constrained by limits on estate tax deduction for charitable bequests.
2. Include PAGBCC as a Beneficiary of Your Retirement Plans
• Name or designate PAGBCC as a beneficiary of your IRA, 401(k), or other qualified retirement plan.
• Pass the balance of your retirement assets to PAGBCC by contacting your plan administrator.
• Tell PAGBCC about your gift. Your plan administrator is not obligated to notify us, so if you don't tell us, we may not know.
Benefits…
• You continue to take regular lifetime withdrawals.
• You maintain flexibility to change beneficiaries if your family's needs change during your lifetime.
• Your heirs avoid the potential double taxation on the assets left in your retirement accounts.
3. Transform RMD Obligation Into Spiritual Inspiration
• Instead of being taxed on money you must withdraw from your IRA each year once you turn 73, as early as 70½, you can
make a qualified charitable distribution (QCD) to the PAGBCC Foundation.
Benefits…
• You fulfill all or part of your annual required minimum distribution (RMD)requirement.
• You and/or your beneficiaries are not taxed on distributions up to over $100,000 (will increase each year with inflation) from
your IRA.
• Your entire distribution goes to PAGBCC.
4. Create a Donor Advised Fund
• A donor-advised fund can be a convenient and easy way to organize all of your charitable donations.
• Contributions to the donor-advised fund can be made at any time.
• You recommend various amounts to be distributed to charitable organizations, including PAGBCC.
• And you can turn your donor-advised fund into a lasting legacy by naming PAGBCC as a beneficiary of your account.
Benefits…
• You qualify for a federal income tax charitable deduction when you make a gift to the fund.
• You don’t need to retain records for each contribution.
• If you choose, your children can be involved in deciding which grants to make.
Please contact your financial advisor or estate planning professional for further details.
