The Pension Protection Act of 2006 has recently been extended. The Act allows individuals of 70 1/2 and older to make charitable contributions by drawing funds from their traditional or Roth IRAs entirely tax-free. The charitable gift from your IRA will satisfy all or part of your required IRA distribution requirements.
If this option appears to make sense for your personal tax situation we would advise that you consult your tax consultant before moving ahead.
If you have any questions please contact BPAA Board member Michael Comerford '72 who specializes in Trusts & Estates for assistance in any of these matters.
Comerford & Dougherty, LLP
Whenever making important decisions regarding charitable giving or estate planning it is always best to consult your attorney and tax consultant.