A charitable gift through your retirement assets is a versatile way to support Trout Unlimited during, and after your lifetime.
Estate Planning Essentials
- Legal Name: Trout Unlimited, Inc.
- Employer Identification Number (EIN): 38-1612715
- National Address: Trout Unlimited, 1777 N. Kent St., Suite 100, Arlington, VA 22209
Perhaps the simplest way to support Trout Unlimited with a future gift is by naming the organization as a beneficiary of your retirement account(s). Just consult your advisor, complete and sign the forms, and keep a copy with your valuable papers. The flexibility of beneficiary designations means that you aren’t locked into the choices you make today. You can review and adjust beneficiary designations anytime you want.
Example: Bill wants to provide for his children, but he also wishes to leave a charitable gift to Trout Unlimited. Bill decides to pass on income tax-free inheritances such as real estate, cash, and life insurance to his heirs, and give his retirement plan assets in support of Trout Unlimited. The assets in his account will pass to Trout Unlimited free of any income tax obligation. In addition, Bill’s gift qualifies for an estate tax charitable deduction. Most important, Bill can change his mind at any time about the gift.
If you are 70 ½ or older, you can make a tax-free distribution from your traditional or Roth IRA to Trout Unlimited. TU supporters can donate up to $100,000 each year without incurring income tax on their withdrawal. It’s an efficient way to support TU through your required minimum distributions, and in many circumstances, can help individuals save significant taxes.
To qualify as a tax-free distribution:
- An individual must be 70 ½ or older.
- The contribution needs to come directly from the financial institution that holds your retirement assets.
- To qualify as a required minimum distribution in any given year, the donation must be received and deposited by Trout Unlimited in that year.
- No goods or services may be provided in exchange for your contribution.
If you’re under the age of 70 ½ you can still support Trout Unlimited with your IRA. Simply make a withdrawal and donate the proceeds after taxes.
Please consult your professional tax advisor before contributing through your retirement account.