IRA Charitable Giving

Posted on February 13, 2008 by Stephen Follett

IRAs have very unique rules.  These unique rules give rise to unique challenges and opportunities in estate planning.

One of those opportunities/challenges is how to use the IRA funds in financial/estate planning. 

The North Carolina Estate Planning Blog has a post on the Stimulus Package and President Bush's proposed budget.  One IRA rule is set to expire, but the proposed budget seeks to make it permanent.  The rule is the IRA Charitable Rollover which exempts IRA transfers from the income tax normally owed.  The following is a descriptive excerpt of the rule from the post:

IRA Charitable Rollover. IRA owners over age 70½ will be permitted to transfer up to $100,000 per year tax-free from their IRA custodian to a qualified charity.

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