Insights
Day Pitney remains committed to providing quality legal counsel, while protecting our clients and employees, and transforming our communities into more just, equal and equitable spaces. For more information, please visit our COVID-19 Resource Center | Racial Justice and Equity Task Force.
Individual Retirement Accounts (IRAs) and other retirement plans often make great vehicles for implementing charitable intentions. If a qualified charity is named as the beneficiary, it can receive the full value of the IRA on the death of the owner, avoiding estate tax and income tax on the assets in the IRA.
Congress recently made permanent the IRA charitable rollover, which allows any individual who has reached age 70½ to donate up to $100,000 annually directly from his or her IRA to eligible charitable organizations, free of federal income tax.
For more information on the IRA charitable rollover, see this article in Day Pitney’s February 2016 Nonprofit Newsletter or contact your Day Pitney attorney.This website may use cookies, pixel tags and other passive tracking technologies, including Google Analytics, to improve functionality and performance. For more information, see our Privacy Policy. By using our website, you are consenting to our use of these tracking technologies. You can alter the configuration of your browser to refuse to accept cookies, but if you do so, it is possible that some areas of web sites that use cookies will not function properly when you view them. To learn more about how to delete and manage cookies, refer to the support instructions for each browser (e.g., see AllAboutCookies.org). You may locate Google Analytics' currently available opt-outs for the web here.
This website may use cookies, pixel tags and other passive tracking technologies, including Google Analytics, to improve functionality and performance. For more information, see our Privacy Policy. By using our website, you are consenting to our use of these tracking technologies. You can alter the configuration of your browser to refuse to accept cookies, but if you do so, it is possible that some areas of web sites that use cookies will not function properly when you view them. To learn more about how to delete and manage cookies, refer to the support instructions for each browser (e.g., see AllAboutCookies.org). You may locate Google Analytics' currently available opt-outs for the web here.