Can I name a charity on my retirement account?

Question

At the moment, charitable giving is important to me and I want it to be part of both my financial plan and estate plan. At the moment, most of my wealth is in retirement accounts and appreciated investments rather than cash. At the moment, the decision could affect roughly $185,000 in my situation, so I want to compare the tradeoffs instead of using a rule of thumb.

Soradin · Accepted Answer

A qualified charity can often receive retirement assets directly, which may be tax efficient compared with some other assets. When the options are compared, the method should match the donor's tax position, desired control, timing, and need for income or flexibility. When the options are compared, charitable planning can involve current gifts, beneficiary designations, donor advised funds, trusts, or bequests.

Can I name a charity on my retirement account?

Soradin

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