You can designate Royal River Conservation Trust as a beneficiary of an existing asset or portion of an asset that you and your family will no longer need thereby making a meaningful – and often tax-wise gift.
Life Insurance
If you own a whole life policy that you bought years ago to protect your family against hardship and that you no longer need, you can make RRCT the owner and beneficiary of that policy.
A gift of life insurance could be right for you if:
- You would like to make a generous gift to RRCT.
- Your life insurance policy is paid up or has substantial cash value.
- You’ve provided for your family and loved ones by other means.
Retirement Plan Assets
Assets held in your IRA, 401(k), or 403(b) plans that you no longer need can be gifted to RRCT upon your passing.
A gift of retirement plan assets could be right for you if:
- You would like to make a generous gift to RRCT.
- You have an IRA or other Qualified Retirement Plan such as a 401(k) or 403(b).
- You do not expect to need all of your retirement plan assets during your lifetime.
- You have other assets, such as securities and real estate, that you want to pass to heirs.
If you are 70½ or older, you can also contribute up to $100,000 from your IRA each year to charitable organizations such as RRCT through a Qualified Charitable Distribution – and meet or help to satisfy your annual Required Minimum Distribution.
We would be delighted to consult with you regarding these options and strongly encourage you to talk with your financial advisor regarding beneficiary designations.
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