Planned giving allows you to have a lasting impact on students in our community. You can designate the Albany Public Schools Foundation as a beneficiary in your will or trust or as a recipient of your Required Minimum Distributions (RMDs). Charitable giving can have tax benefits while ensuring that your legacy supports your philanthropic goals.
Estate Planning
Under current federal tax law, when you designate a charitable organization like APSF as a beneficiary of your estate, the value of that donation is fully deductible from the estate’s total value. This can lower the amount of estate tax your heirs will have to pay.
RMDs and QCDs
An RMD is the minimum amount you need to withdraw from certain retirement accounts each year. You generally need to start taking RMDs after you reach age 73. You can reduce the taxes you would normally pay on your RMD by donating it to the Albany Public Schools Foundation. You can make a tax-free donation directly from your IRA to APSF using a Qualified Charitable Donation (QCD). A QCD can satisfy your RMD requirement without needing to pay taxes on the income.
Estate planning gives you the opportunity to define your legacy. To discuss how APSF can help you maximize your philanthropic impact, please reach out to Peggy Burris at 541-979-2773 or executive@albanypsf.org.
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