Giving through your retirement account is one of the most tax-wise ways to give. Your retirement assets, an IRA or other retirement account such as a SEP IRA, 401(k), 403(b), if left to your family (other than a spouse), will be subject to income tax in addition to any applicable estate tax. With a gift to Hospice Hawaii, 100 percent of the funds are available for its charitable purposes. If you want to remember us in your estate plan, it is often better to leave other types of assets – cash, securities, real estate – to your heirs and give the more heavily taxed retirement asset to Hospice Hawaii.
If you’re 70–½ years old or older, an IRA charitable rollover is a smart way to make a tax-free outright gift to Hospice Hawaii using your qualified retirement plan. This gift may also satisfy your required minimum distribution (RMD).
How Do I Qualify?
- You must be 70-½ years old or older at the time of the gift
- Gifts must go directly from your IRA to Hospice Hawaii
- Gifts must come from a traditional IRA or Roth IRA account
- Gifts cannot exceed $100,000 per donor per year
Consult your IRA administrator’s website for a form to initiate a charitable IRA rollover, also known as a Qualified Charitable Distribution (QCD). Please contact us with any questions.