Oklahoma United Methodist Foundation insights First steps lead to lasting impressions


IRA Charitable Rollover
has been extended

On Jan. 1, 2013, both the Senate and House passed the American Taxpayer Relief Act of 2012 (ATRA). The bill resolved the "fiscal cliff" and includes a number of provisions favorable for charitable giving, including IRA Charitable Rollover Gifts.

If you are over age 70½, the federal government permits you to roll over up to $100,000 from your IRA to a charity without increasing your taxable income or paying any additional tax. These tax-free rollover gifts could be $1,000, $10,000, or any amount up to $100,000, and can satisfy your required minimum distribution.  

The IRA rollover gift is a simple and easy way to give to your local United Methodist church or favorite United Methodist ministry while not increasing your taxable income. 

 To participate in the IRA charitable rollover, simply contact your IRA custodian and request an amount be transferred to the Oklahoma United Methodist Foundation for benefit of your United Methodist cause.  Your church will receive a nice gift, you avoid any additional tax, and you satisfy your required minimum distribution for the year. 

 Contact the Foundation for more information.

Overcoming your fears can be the hardest part of creating a will

Many people are intimidated by the prospect of creating a will, but preparing a will is as simple as writing a letter. A well-written will is nothing more and nothing less than a statement of what is important to you.

The most complicated part of preparing a will is simply taking the first step: deciding to do it.

Whether you are creating a will for the first time or revising it for the fifth time, you should use an attorney. Most attorneys charge relatively little for this service. They are experienced in writing wills and can walk you through the process.

The Oklahoma United Methodist Foundation’s A Christian’s Guide to Planning Your Will & Trust can help you with the information needed for your will. Once completed, your will can benefit your family, friends, church, and other charitable causes important to you.

Certain states have very specific requirements regarding wills. Many require witnesses and other formalities to make sure your will is authentic and reflects your wishes. Miss one of these requirements and your will may be invalid. If you hire an attorney who regularly drafts wills, he or she can help you with all of these basic requirements and suggest new ideas to make things even easier.

Take a moment today to consult your attorney. If you do not have an attorney, ask your friends and neighbors who they used to write their wills. You will probably spend far less than you think and receive far more peace of mind than you thought possible.

Contact the Foundation at 800-259-6863 for your complimentary copy of A Christian’s Guide to Planning Your Will & Trust.


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