Contribute a Charitable Rollover from Your IRA
While you can name a charity as an IRA beneficiary, you can also choose to make use of a charitable tax break for IRAs now. People can give up to $100,000 per year to St. Paul Endowment Fund straight from their IRAs, and the amount can count toward any required minimum distributions (RMDs). RMDs are distributions you're required to take from retirement accounts once you reach a certain age. However, there's a perk to this option: Giving the funds directly to St. Paul Endowment Fund from your IRA is considered a qualified charitable distribution (QCD), allowing you to exclude the amount from your income so you don’t pay taxes on it.
Please remember to consult an estate planner, financial planner, attorney, or other professional to write your estate plan.