Gifts from Retirement Plans

How it Works:

Long Term Retirement Gifts

  • You name or designate Good Shepherd Hospice as a beneficiary of your IRA, 401(k), or other qualified retirement plan.
  • Funds are transferred by your plan administrator as a beneficiary upon death Or as an immediate IRA rollover gift.
  • Tell Good Shepherd about your beneficiary designation gift. Your plan administrator is not obligated to notify us, if you don’t tell us, we may not know.

Immediate IRA Rollover Gifts

  • You must be age 70 ½ or older at the time of gift.
  • Transfers must be made directly from your traditional or Roth IRA by your IRA administrator to Good Shepherd Hospice.
  • Annual maximum donation is $100,000, per individual (Two spouses may each give $100,000 per year.)
  • Count towards your required minimum distribution for the year in which you make the gift.

 

Benefits:

  • No federal estate tax on the gifted funds, and as a non-profit organization we can use 100 percent of your gift.
  • Continue to take regular lifetime withdrawals.
  • 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 account.

For more information, please call Danielle Perillo, Foundation Director, at 631-828-7605

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