Make Oakland Symphony a beneficiary of your IRA
Linda: Robert and I loved going to the symphony. We volunteered and sang in the chorus. When Robert passed away, I wanted to make a gift to honor his memory.
Linda inherited Robert's IRA, which when combined with her own, provided her with the necessary income she needed in retirement. She even had enough to take regular vacations and splurge on gifts for the grandkids.
Linda: I had originally thought about leaving my IRA to our kids and other assets to charity. My attorney suggested a different strategy and told me that an IRA is a great gift to leave to charity. He explained that if my kids inherited the IRA, my estate would pay estate taxes and my kids would pay income tax on the IRA. By giving our IRA to charity and other assets to my kids, the kids will still receive a nice inheritance, and we can avoid income and estate taxes entirely!
Linda: Making a gift of my IRA was easy! I contacted my IRA custodian, who emailed me an IRA beneficiary designation form. I completed the form, and named Oakland Symphony as the primary beneficiary of my IRA and mailed it back to my IRA custodian. I called Oakland Symphony to tell them about my gift, and they were very touched. I know Robert would be happy too. Best of all, I can continue using IRA for as long as I live, and when I pass away, my IRA will go to Oakland Symphony.
Linda: Making a gift of my IRA was easy! I contacted my IRA custodian, who emailed me an IRA beneficiary designation form. I completed the form, and named Oakland Symphony as the primary beneficiary of my IRA and mailed it back to my IRA custodian. I called Oakland Symphony to tell them about my gift, and they were very touched. I know Robert would be happy too. Best of all, I can continue using IRA for as long as I live, and when I pass away, my IRA will go to Oakland Symphony.
Is a beneficiary designation gift right for you?
If you own a qualified retirement plan, such as an IRA, 401(k) or 403(b) and would like to make a charitable gift, your family or your estate might benefit if you name Oakland Symphony as a beneficiary. Charitable beneficiary designation gifts may help your heirs avoid paying income tax on certain inherited assets and may help your estate avoid estate taxes.
If you have any questions about how to make a beneficiary designation, please contact us.
The benefits of your gift may be different. Please, seek the advice of your legal, tax or financial advisor.
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