Sam is passionate about making a difference in the lives of people impacted by disabilities. He recently updated his Will to leave stocks and real estate to his children and grandchildren. He named Joni and Friends as the sole beneficiary on his $75,000 IRA to be transferred following his lifetime. Since Joni and Friends is tax-exempt, all $75,000 will bypass probate and go directly to us to further our mission of transforming the lives of people living with disabilities with the love of Christ and the hope of the Gospel.
If Sam had left the IRA to his family, approximately $18,000* would have gone to pay federal income taxes-leaving only $57,000 for his family’s use. Sam is happy knowing he has found a smart way to make a gift to charity while caring for his family. His legacy is both practical and eternal.
*Based on an assumption of a 24% marginal income tax bracket.