It has taken nearly twenty years of persistent lobbying by a handful of key players in the nonprofit sector, and in the end they had to accept some steep compromises, but as of January 1st, if you are age 70-1/2 or older, you can make a direct “rollover” from your traditional IRA into a charitable remainder trust or a gift annuity contract.
Encourage Donors to Ensure Their Beneficiary Designation Forms are Up to Date
If you’ve named a charity as the beneficiary of an asset such as an insurance policy or retirement account, you know that the beneficiary designation forms typically request that charity’s name, address and tax identification number (TIN). And if there’s a mistake?