By: Michael Tindall, Preferred Professional Advisor
You’ve spent years working hard. You’ve built an estate that you and your family are proud of. You already contribute philanthropically to causes that you care about deeply. Still, you wonder if your legacy is all it could be.
If these statements resonate with you, chances are you have already done a lot for your community and your church. There are many fulfilling ways to give back, but the most impactful ways are also simple and efficient for the donor. One of the most impactful and simple methods is to contribute your annual required minimum distribution (RMD) from your IRA. This is an easy, tax-efficient way to ensure you leave the lasting legacy you hope for.
If you are working with a financial professional, they can walk you through this simple and effective process known as taking a Qualified Charitable Deduction (QCD). If you are age 70 ½ or older, you are eligible to take advantage of this great opportunity to help ensure your legacy is felt for generations.