The SECURE Act dramatically changed the tax law rules, substantially increasing the income taxes paid by most non-spouse IRA beneficiaries by eliminating the stretch IRA for those beneficiaries. Consider the benefits of using a testamentary charitable remainder unitrust to replace your obsolete stretch IRA plan.
How This Plan Meets Your Goals
- Spreads out the income payments over the lifetime of your beneficiaries
- Provides income tax savings to the heirs
- Allows tax-free growth inside the trust
- Protects heirs
- Results in no taxes being paid on the IRA when it is distributed to the trust
- Leaves significant charitable gifts to support Wake Forest
You may be looking for a way to provide your children with income while making a gift to Wake Forest. The Give it Twice Trust is a popular option that allows you to transfer your IRA at death to a term of years unitrust. The unitrust will pay income to your family for a number of years and then distribute the balance to charity.
Give it Twice Trust
Benefits of a Give it Twice Trust
- Full value of IRA invested to produce income.
- Payments made to children for a term of years.
- Estate tax deduction and savings for your gift.
- Supports the work of Wake Forest University.
How this Plan Meets Your Goals
The Give it Twice Trust helps you meet your goals
- Save on income and estate taxes.
- Treat your children equally.
- Give children time to learn.
Please visit Benefits Of Letting Us Know About Your Commitment and Frequently Asked Questions to learn more about including Wake Forest in your plans for the future or feel to contact us.