Charitable Giving With a Retirement Account

Charitable Giving With a Retirement Account

by Richard C. Wilson & Family Offices Group Association Team

Family Office Definition: Charitable Giving With a Retirement Account

Charitable Giving With a Retirement Account definition:  Charitable giving with a retirement account is accomplished by naming the charity as the beneficiary. The full amount is transferred to the charity without taxes.  The donor receives a charitable deduction on estate taxes for the size of the donated retirement account.  The charity also does not pay income taxes on distributions from inherited IRAs (while a family heir would be responsible for income taxes on distributions).  Spousal consent may be required in writing for the beneficiary designation to be valid.

Download our free Family Office Report to learn more about the family office industry.

Read more Family Office Definitions

Tags: What is charitable giving with a retirement account?, charitable giving with a retirement account definition, charitable giving with a retirement account family office, charitable giving with a retirement account term, define charitable giving with a retirement account, charitable giving with a retirement account wealth management, charitable giving with a retirement account multi-family office, charitable giving with a retirement account single family office

Leave Your Response

* Name, Email, Comment are Required

We run the Family Offices Group, the #1 largest family office association with 84,000+ global members. We offer live events, a bestselling book, Webinars, a family office database, and a family office training & certificate program called the Qualified Family Office Professional (QFOP). To get to know us please watch this 2 minute video, and contact us any time during pacific business hours by calling (212) 729-5067 or emailing us at Clients@FamilyOfficesGroup.com.

Free Family Office Report (PDF)

Contact Details for 1,000 Family Offices in Excel