There are various ways to make a donation to the Del Webb Sun Cities Museum. These are a couple to consider.
Estate planning is the process of designating who will receive your assets in the event of your death or incapacitation. Often done with guidance from an attorney, a well-constructed estate plan can help ensure that your heirs and beneficiaries receive assets in a way that manages and minimizes estate taxes, gift taxes and other tax impacts.
Estate planning checklist
Create an inventory.
Account for your family’s needs.
Establish your directives.
Review your beneficiaries.
Note your state’s estate tax laws.
Weigh the value of professional help.
Plan to reassess.
QUALIFIED CHARITABLE DISTRIBUTION
Reduce your tax burden ~ EVEN IF YOU DON’T ITEMIZE
If you have a traditional IRA and are 73 or older, the government compels you to withdraw a set percentage of your IRA yearly. The term “required minimum distribution” (RMD) refers to this withdrawal.
As early as 70 ½, you can make a direct donation to the Sun Cities Historical Society, Inc. from your IRA if you don’t need the income and don’t want to pay taxes on the required withdrawal.
This Qualified Charitable Distribution lets you give up to $105,000 yearly from your obligatory withdrawal. Giving in this manner may be able to meet your annual RMD requirement.