Schedule A Consultation Today 425-333-2358

Helping You Plan Your Future And Solve Your Problems

View Our Practice Areas

Qualified charitable distributions


Many Kent area residents donate to charity each year. Charitable donations help with taxes and are a great way to help organizations throughout our community. Charitable donations can also help with estate planning purposes when a person is still alive. Transferring money to a charity is one way for a person to impart their values to their heirs.

A qualified charitable distribution (QCD) is a way for a person to transfer assets from an IRA to a charitable organization. Often, people use this option when they are forced to take a minimum required distribution. Individuals over the age of 70 ½ may make a QCD from their IRA. The transfer must be made directly to a charity with the limit being $100,000 each year. The person who uses a QCD cannot take that amount as a charitable deduction on their taxes.

Helping charitable organizations and having tax benefits besides is something that many Kent area residents may find enticing. A legal professional skilled in estate planning can help their clients with setting up an estate plan, or updating an existing estate plan based on their current needs. An attorney can also recommend financial professionals to help with the tax implications of estate plans. Having an estate plan that benefits both heirs and charitable organizations makes sense for many families.

Having an estate plan is important in protecting a family's assets and for continuing a family's legacy. Often, a person's values include charitable giving. There are many ways for a person to include a charity in their estate plan and an attorney can help an individual make sure their wishes are met.

Source: news.morningstar.com, "A guide to qualified charitable distributions", Natalie Choate, Nov. 11, 2016

No Comments

Leave a comment
Comment Information

Make Your Consultation Appointment

To speak with an attorney at Gellner Law Group about estate planning, probate, trusts, wills or tax controversy, contact our law office in Kent, Washington, today. You can call 425-336-2908 or send us an email. We provide representation across the entire Seattle-Tacoma metropolitan area.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Email Us

Kent Office
8407 S. 259th Street
Suite 203
Kent, WA 98030

Phone: 425-336-2908
Fax: 253-852-0400
Kent Law Office Map

Kent Office

Spokane Office
505 W. Riverside Avenue
Suite 500
Spokane, WA 99201

Phone: 425-336-2908
Fax: 509-769-0202
Map & Directions

Spokane Office