Retirement Assets

What is this?

Individuals age 70.5 and older can move up to $105,000 per year from their Individual Retirement Accounts (IRAs) directly to their favorite charity or charities without it affecting their taxable income.

Who is it a good option for?

People who are charitably inclined, don’t want or need the income, and don’t want or need their Required Minimum Distribution (required for those age 73 and older)

Financial Benefits

This is a potential income tax (and an estate tax) reduction strategy while being charitable.

What do interested parties need to prepare for a meeting?

First, individuals should contact their IRA plan administrator to start the distribution process. When they’re ready to send the QCD, they can have the check made payable to “ESNH” and mail to:

Easterseals New Hampshire
Attn: Development Department
555 Auburn Street
Manchester, NH 03103

Next, the person should notify the ESNH Gift Recording office at 1.800.870.8728 or 603.623.8863 or email [email protected] of the intended gift along with the following information: Name, gift amount, anticipated date of check arrival, and name of IRA custodian.

What is this?

Workplace retirement plans (401K is for-profit, 403B is non-profit, and 457 is government) where a ESNH can be named as a beneficiary paid on death of the individual.

Who is it a good option for?

For those who are charitably inclined but want to keep their bequest intentions revocable for now.

Financial Benefits

This gift would NOT be included as part of one’s estate and therefore would not be taxed as income, either.

What do interested parties need to prepare for a meeting?

An individual should bring any beneficiary change forms from the relevant retirement plan custodians. ESNH can offer suggested language for this person to complete and file.