IRAs, 401(K), 403(B) and other retirement accounts grow tax-deferred, often becoming quite large over the years. Unlike many other types of investments, funds withdrawn from retirement accounts can be taxable to you and, eventually, to your heirs.

Designating YOUR CHARITY as the beneficiary of your retirement account may be a very tax-savvy thing to do.

Retirement accounts left to YOUR CHARITY are removed from your estate for federal estate tax purposes. Plus, there is no income-tax assessed against your estate or your heirs when the funds are transferred to YOUR CHARITY, allowing you to avoid multiple taxes.

If you are over 70 ½, you are required to take distributions from an IRA. Instead of creating a taxable event for yourself, make the distribution a charitable gift using all or a portion of your mandatory withdrawal amount (up to $100,000 total, per person). 

As long as the distribution is paid directly to YOUR CHARITY from your IRA administrator, the amount will not be counted in your taxable income for the year, which may result in tax savings for you!

If you have a life insurance policy that you no longer need, donating it to YOUR CHARITY may allow you to take advantage of a charitable tax deduction.

For a paid-up policy, you’ll benefit from an income tax deduction equal to the replacement value of the policy or the tax basis (premiums paid on the policy up until the date of the gift), whichever is less.

If premiums remain to be paid, future annual premiums (paid to YOUR CHARITY) will qualify as tax-deductible charitable gifts. 

A charitable gift annuity (CGA) provides you (and/or another beneficiary) with a payment stream for life, and YOUR CHARITY will receive the remainder of the gift upon your death(s).

The payout rate for your income payments is based upon the age of the beneficiary at the time the payments begin, and you’ll qualify for a charitable deduction based on the contribution portion of the purchase of the CGA.

Planning for the future is one of the most important part of protecting the people and animals who depend on you. A will or living trust allows you to clearly outline how you want your assets handled and who you want to receive them after your passing.

It’s important to review your estate plan as life changes. Births, marriages, deaths, new assets, or changes to your circumstances can all affect your wishes.

Don’t forget your donkeys. Make sure that those close to you know who is to care for your pets should you be unable to care for them yourself. Many people leave instructions for their donkeys to come to Peaceful Valley Donkey Rescue.

Peaceful Valley cares for thousands of donkeys, therefore we have a succession plan that our rescue will continue for generations to come. Many of our friends choose to include the donkeys in their estate planning. A charitable bequest to Peaceful Valley Donkey Rescue, whether a specific amount, a percentage of your estate or the remainder after you have provided for your loved ones, will also allow you to create a philanthropic legacy while providing estate tax relief.

Below is some suggested wording to take to your estate planner.

“After fulfilling all other provisions, I give, devise and bequeath _____% of rest residue and the remainder of my estate as a charitable contribution to the Peaceful Valley Donkey Rescue. Tax ID #77-0562800.”

“After fulfilling all other provisions, I give, devise and bequeath $____ (if a set amount of money) as a charitable contribution to the Peaceful Valley Donkey Rescue. Tax ID #77-0562800.”

Call (866) 366-5731 or email info@pvdr.org for more information