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Capuchin Franciscan Friars
Office of Planned Giving
Your Legacy
The IRA Charitable Rollover extended for
2008/2009
There's good news for individuals aged 701/2 or older with IRAs.

Thanks to the reinstated legislation, you can make outright gifts using IRA funds, without tax
complications.

If you are required to withdraw minimum distributions from your IRA and you do not need the
money for personal use, consider using those funds as a charitable gift.  While you cannot
claim a charitable deduction for the IRA gifts, you will not pay income tax on the amount.

You may contribute funds this way if:

  •  You are age 70 1/2 or older at the time of the gift.
  •  Your IRA gifts total 4100,000 or less each year, in 2008 and 2009.
  •   You transfer funds directly from and IRA
  •  You transfer the gifts outright to one or more public charities.

(This excludes gifts made to charitable trust, donor advised funds, gift annuities and
supporting organizations.)

HOW THE NEW LAW WORKS

Pat, age 80, has $450,000 in an IRA and made a pledge to give us $75,000 this years.  If Pat
transfers $75,000 from the IRA directly to us to satisfy the pledge, she will avoid paying
income tax on $75,000.  At the same time, however, Pat will not be able to use it as a
charitable deduction -it is a pure wash.  It is an easy and convenient way for her to benefit is
without tax complications.

HOW TO MAKE A GIFT

Simple contact your IRA custodian for the form necessary to transfer your desired gift amount
to the charitable organization of your choice.
Yes! Bring me up to date on tax law changes regarding
IRAs.
Please send me the free brochure,
How to Make
Charitable Gifts from Your IRA.