Giving Life Insurance to A.R.E.
Consider making A.R.E. the beneficiary or contingent beneficiary of a life insurance policy. This can be a good way to make a sizeable future gift with little or no cost to you. If you have a policy you no longer need, you might consider gifting it to A.R.E. during your lifetime and receiving tax benefits now.
Giving Retirement Assets to A.R.E.
Retirement funds, such as a 401(k) or IRA, can be a great asset to leave to the A.R.E. Without careful planning, over 70% of retirement assets could end up going to pay estate and income taxes. You might consider leaving 100% of your retirement assets (the balance in your retirement account upon your death or upon the death of your spouse) to A.R.E. and leaving other assets to your family that carry less tax liability. This is accomplished by filling out a Beneficiary Designation or similar form listing A.R.E. as the beneficiary.
New Law Makes it Easier to Donate
Money to A.R.E. from Your IRA
age 70 1/2 or
older can now rollover IRA funds to charities
tax-free. This provision, recently passed by
Congress, is effective through December
31, 2009. Here are some details about this
Individual must be 70½ or older
The distribution must be rolled over from your IRA directly to the charity
The maximum tax-free distribution you can make in a year is $100,000
The amount rolled over to a charity will count toward your required minimum distributions for the year
If you want to donate money from a 401(k) or similar plan, you must first roll the money into an IRA and then to the charity
To take advantage of this opportunity, please call the Office of Development.
Giving Real Estate to A.R.E.
A gift of real estate, whether it is a residence, vacation home, or farm, can allow you to make a significant contribution. Each piece of property is unique and will need to be reviewed to determine its suitability as a gift. In general, an acceptable piece of property is one that can be readily sold. Real estate can be given as a current or future gift.
For more information or to discuss your charitable goals, please contact us.
A.R.E. Office of Development
215 67th Street
Virginia Beach, VA 23451-2061
Toll Free (USA and Canada only): 1-800-333-4499
Please note, the information on this site is not
intended to be legal or financial advice. If you decide to support
the Association for Research and Enlightenment, Inc., the Edgar Cayce
Foundation, or Atlantic University through a planned gift, please
consult your attorney or tax advisor. They are in the best position
to assess your personal situation and provide guidance. A.R.E., the
Edgar Cayce Foundation, and Atlantic University are all 501 (c) (3)
tax exempt public charities.