Legacy / Planned Giving
A Gift in Your Will or Living Trust: An Easy Way to Save More Lives!
Interested in creating a brighter future for our community but feeling overwhelmed by the thought of writing another check? A simple, flexible, and versatile way to ensure Prevail can continue life saving services is a gift in your will or living trust, known as a charitable bequest.
By including a bequest to Prevail in your will or living trust, you are ensuring that Prevail can continue for future generations in our community.
Suggested Language for Including Prevail in Your Will
“I give, devise and bequeath the (sum of $______, ____ percentage of, residue of my estate) to Prevail, Inc. of Hamilton County, an Indiana not-for-profit corporation exempt from federal income taxes under 501 (c) (3) of the Internal Revenue Code of 1986, as amended, located in Noblesville, Indiana, for the furtherance of its charitable purposes.”
Helpful tips and information:
If you would like to speak with someone regarding your intentions, please call Natasha Robinson at 317-773-6942 or by email: email@example.com
Do you have to take a Required Minimum Distribution (RMD)?
If you are 70-and-a-half years old or older, the IRS requires you to start withdrawing from most types of tax-advantaged retirement accounts. You must also take RMDs from retirement accounts you inherit. For most people, the deadline for taking an RMD is December 31. If you miss the deadline or take less than you’re supposed to, you could be subject to a 50% tax penalty.
To avoid this penalty, you can donate your RMD to charity and avoid paying the taxes. Qualified charitable distributions (QCD) won’t be added to your taxable income for the year, so you may be eligible to save money on your income tax returns by directing part of your RMD to a nonprofit organization like Prevail. Did you know that by contributing to your favorite charities via a QCD may also prevent some of your social security from being taxable? 100% of your gift will benefit the charitable organization you support. Even if you don’t itemize your deductions on your federal income tax return, you’ll still enjoy income tax benefits from your charitable giving,
*We aren’t tax experts, so be sure to consult your tax preparer for questions about your particular situation.
Donate Your Required Minimum Distribution to Prevail
If you want to direct a portion of your RMD as a charitable donation to Prevail, be sure to tell your financial advisor or IRA custodian, so that they can provide you with the proper paperwork. Prevail’s tax ID is 35-1681864.