Leaving a retirement plan or part of an IRA is also possible.
This type of gift is also easy to make and can maximize benefits to you and to the community. To make this gift, simply notify your plan’s administrator of your wish to change the beneficiary. A change of beneficiary form will be required. Narrow Ridge Center can be a full or partial beneficiary of your plan.
If you are 70 ½ or older, there is even a taxwise way to give to Narrow Ridge through an IRA charitable giving rollover. A gift of up to $100,000 will
- not be included in your taxable income and may even reduce your taxable income, even if you don’t itemize your deductions
- may satisfy your required minimum distribution (RMD) for the year
- is not subject to the 50% limitation on charitable gifts
You have even more options! You may wish to explore a Charitable Gift Annuity, Charity Remainder Unitrust or Charitable Remainder Annuity Trust.
Contact your plan administrator to set up a qualified transfer of your IRA to Narrow Ridge.