Julia Greeley Home, Inc. is a 501(c)(3) charity. Federal Tax ID: 46-3832209
Wills and Bequests
Wills and bequests are important components of estate planning, the process of managing your assets and choosing what legacy you will leave behind. Your Will and other estate documents provide resources that will support the Julia Greeley Home Ministry long into the future.
Bequests can be made directly to the Julia Greeley Home by exploring the following Beneficiary Designation options:
- Charitable Bequests – The most straightforward way to make a willed gift is by a charitable bequest—a provision included in a Will or trust directing a gift to charity (designated beneficiary) upon the death of the donor. This can be done in a variety of ways which include:
- Percentage Bequest – a percentage or fraction of the estate is left to charity
- Bequest of Remainder or Residue – directs what is left, after other distributions are made, that should be given to charity
- Contingency Bequest – a contribution is made only if other things happen first (e.g. spouse dies first)
- Qualified Retirement Plans (IRA, Keogh, 401k, 403b) make excellent willed gifts!
- Money transfers at death from a qualified retirement plan directly to charity (designated beneficiary) may escape income tax consequences! To realize this, the beneficiary of the retirement plan on the death of the donor must be the charity specifically.
- If the beneficiary of the retirement plan, or any portion of the retirement plan, is the charity directly (contact your retirement administrator for clarification), then the money will be distributed quickly to the charity, and without being taxed!
IRA Charitable Rollover is now a Permanent Law – Each IRA owner over age 70 ½ may make a transfer of up to $105,000 ($210,000 for married couples filing jointly) per year to a qualified charity. IRA charitable rollovers are tax-free and not included in adjusted gross income. An IRA charitable rollover may fulfill part or all of your required minimum distribution (RMD), raised to age 73 in 2023.
To discuss the various options, and to learn how you and Julia Greeley Home can benefit, contact Debbie Scott at 303.204.1440 or dbbscott7@gmail.com
