GIFTS FROM RETIREMENT PLANS

A significant portion of your wealth may come from retirement plan accounts (IRAs), 401(k) plans, profit-sharing plans, Keogh plans, and 403(b) plans. Take advantage of special tax considerations by using these assets for funding a charitable gift to the PBS.

Lifetime Gifts

The Process

  1. From your available gross income that is available for inclusion, you take a share from your qualified retirement plan or IRA
  2. You make a gift from a share of the retirement plan or of other assets equal in value that will ensure that a legacy of music in Palm Beach as well as your legacy continue to live on as your generosity secures the PBS’s future.

Your Benefits

  • Offsetting charitable deduction.
  • You will be drawing from, perhaps, your largest source of assets, and receive no adverse tax consequences while providing the PBS worthwhile support for the symphony as a whole or for a specific program that is most important to you.
  • Avoid capital-gain tax (if gift is appreciated securities).

Estate Gifts 

The Process

  1. You request that the PBS will be named as the beneficiary for part or all of your retirement-plan benefits.
  2. At the end of your life, the funds are transferred to the PBS, ensuring that a legacy of music in Palm Beach as well as your legacy continue to live on.

Your Benefits

  • No federal income-tax due.
  • No federal estate-tax.
  • You will enjoy knowing that you provided to the PBS either worthwhile support for the symphony as a whole or for a specific program that is most important to you.
Special note: Call or e-mail us to tell us of your intent, and we will assist you with the details of the transfer.

IRA Rollover Gifts: Aged 70½ or Older

The Process

  1. If you are 70½ or older, you can instruct your retirement plan administrator to make a direct transfer to the PBS of up to $100,000.
  2. Your plan administrator will direct a transfer to the PBS, ensuring that a legacy of music in Palm Beach as well as your legacy continue to live on.

Your Benefits

  • Your gift is directly transferred to the PBS; since the funds are directly transferred, they will not be included as part of your gross income, and as such, there will be no income-tax deduction for the transfer.
  • Your gift will count towards your minimum distribution requirement.
  • You will enjoy knowing that you provided to the PBS either worthwhile support for the symphony as a whole or for a specific program that is most important to you.

Contact us to learn more about this gift plan or other options