Planned Giving

What is an Individual Retirement Account (IRA)? An IRA is an account set up at a financial institution that allows an individual to save for retirement with tax-free growth or on a tax-deferred basis.

When individuals take distributions from their IRAs, it usually counts as income for tax purposes.  A Qualified Charitable Distribution (QCD), also called an IRA Charitable Rollover, is an exception. Individuals 70 ½ years of age or older can distribute up to $108,000 each year from their IRAs to their favorite 501(c)(3) organizations without counting the distribution as income.

What is a Qualified Charitable Distribution (QCD)? A QCD is a direct transfer of funds from your IRA, payable directly to a qualified charity, as described in the QCD provision in the Internal Revenue Code.

Making a Qualified Charitable Distribution (QCD) can be a great option to lower your income taxes while doing good for others. If you’re subject to a Required Minimum Distributions, QCDs count toward your Required Minimum Distribution, effectively lower your adjusted gross income and often bring about many tax benefits.

Required Minimum Distributions (RMDs) are minimum amounts that IRA and retirement plan account owners generally must withdraw annually starting with the year they reach age 73. 

Are you 70 ½ or older with a traditional IRA? If so, you may be eligible to make a tax-free gift from your IRA called a Qualified Charitable Distribution (QCD). QCDs are always tax-free, regardless of whether or not you itemize deductions on your tax return.

Direct Transfer: To qualify as a QCD, the funds must be transferred directly from your IRA to the charity. You cannot distribute the funds to yourself first and then gift them to the charity.

For additional information, please visit the IRS website and consult your financial advisor.

A gift of stock is an impactful way to support United Way and a smart decision for your taxes. By transferring stocks, you can avoid capital gains tax, lower your tax burden, and donate the full amount to United Way. 

Contact your financial advisor to transfer stock to United Way of Payne County.  

Making a planned gift to United Way is a rewarding and incredibly impactful way to make a lasting impact. Your legacy gift will support United Way far into the future and help improve lives and community conditions for generations to come.

Name United Way of Payne County as a Beneficiary:

• In your Will
• Of a Retirement Plan
• Of an existing or new Life Insurance Policy
   

We know many of you may already have estate planners that can easily help add your desire to support United Way of Payne County to your estate plan. However, if you would like free access to these types of forms and tools, United Way has teamed up with FreeWill to make sure everyone in our community has access to a free will planning tool. It’s 100% free to you, and takes less than 25 minutes. Now, it’s easy to ensure that your family and our community thrive for generations to come.

Here’s how it works:

1. Click here to begin and fill out the form online. Include a gift intention to United Way Payne County (or any other charity you love!) to make a lasting impact.
2. Follow the instructions to print and sign your Will and then keep your will somewhere safe but assessable.

3. If you have a larger estate or require customized legal advice, you may want to pair FreeWill with an experienced attorney's help. FreeWill will provide you with free forms and a free summary of your will intentions to bring to your attorney, saving you time and money! 

   
   Making a will gives you peace of mind today and leaves a legacy that supports the people and causes most important to you. Many people who (like you!) care deeply about enriching our community have taken this step already — join them in supporting our community’s needs for future generations! 

If you have a Donor Advised Fund (DAF) with an organization such as the Communities Foundation of Oklahoma, Benevity, Fidelity Charitable, Schwab Charitable, Vanguard Charitable, National Philanthropic Trust (NPT), American Endowment Foundation, TIAA Charitable, etc., you can follow their guidelines for disbursing funds to United Way of Payne County. 

You may give a residence, land, income property, or other real estate to United Way of Payne County and receive a tax advantage.

What is a Revocable Living Trust?
A revocable living trust is an estate planning tool that can be used to distribute your possessions to people and organizations when you pass away.

To take full advantage of your revocable living trust, you need to transfer your assets and property to the trust during your lifetime. Once you (the trust's Grantor and Initial Trustee) pass away, a Successor Trustee will distribute the property in the trust according to your wishes outlined in the trust agreement.

Why create a Revocable Living Trust?
To avoid probate - Avoid costly fees and delays by allowing your assets to be distributed without going through probate.

To protect your privacy - Leave your assets to your heirs without subjecting them to public proceedings.

To make a plan together - Create a trust with your spouse or partner so you can protect each other, as well as your children and other beneficiaries.

Make your free Revocable Living Trust to minimize the cost and delays of the probate process and make sure your wishes are carried out, easy and 100% for free at FreeWill, or contact your financial advisor.