First Unitarian Church of Providence
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traditional IRA, 401k, 403b, etc.

Any of these, or similar, tax-deferred retirement investment vehicles are ideal ways to engage in charitable gifting. The main advantage is that a charity such as the church does not have to pay income tax on distributions from these types of accounts, whereas one’s children or other individuals need to pay income tax on traditional IRAs and similar assets left to them. Therefore, all of the dollars go to the church’s purposes, rather than some part of that going toward payment of income taxes. Such an arrangement also avoids probate.

Get started: Connect with the company that manages your retirement account. Every IRA, or similar account, has a beneficiary designation form. Completion of these forms should not require the help of an attorney. Simply list "First Unitarian Church of Providence" in the space for the beneficiary, designate the amount or percentage, sign the form and return it to the company that manages the account.

Disclaimer: The information provided here is intended to help you think about and evaluate your estate planning options when it comes to charitable giving. You should seek professional advice from an attorney or estate planner of your own choosing in preparing your actual estate plan. Material provided by Paul Brule, Esq. Walsh, Brule & Nault

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