• Charting Your Course: Giving Through an IRA
  • May 20, 2003 | Author: Terry L. Simmons
  • Law Firm: Thompson & Knight LLP - Dallas Office
  • While IRAs can be wonderful planning vehicles, their usefulness in planned giving varies. On one hand, IRAs left to a charity in one's will are free from estate and income taxes, making them a smart estate gift option; on the other hand, when given to a charity during a donor's lifetime, IRAs are subject to taxes that in some cases are high enough to prohibit a cost-effective gift.