1919 Society and More Ways to Give
The state League recently received a gift from a former member who recently passed away. She had listed the state League as one of the beneficiaries on her IRA.
Naming a charity as a beneficiary to receive all or part of your IRA or other retirement assets upon your death has significant tax benefits. Unlike other inheritances, distributions from inherited retirement plans are taxable as ordinary income to a recipient. But the full designated amount of a retirement account will benefit the charity of your choice.
Remembering a charity in your will is a powerful way of ensuring that your values survive you. Charitable gift planning can help you save gift and estate taxes and shape your retirement income. In addition to providing a wonderful legacy for the community, bequests decrease the size of your taxable estate.
We invite you to join our 1919 Society by including LWVNYS Education Foundation in your estate plan. Be sure to discuss your estate plan with a qualified professional advisor. Thank you to the following members who have joined the 1919 Society:
Helen Bailey Bayly
Laura Ladd Bierman
Lori Dawson and
Katharine W. Lloyd, MD