IRA Charitable Rollover provision extended for 2013!
If you are 70 ½ years old and are required to take a minimum distribution from your IRA, you may be eligible for important tax savings by making a charitable donation directly from your IRA to Packard Children's or the child health programs at Stanford School of Medicine.
For your required 2013 distribution, complete the transfer by December 31, 2013.
To learn more,
Donna M. Bandelloni
at (650) 736-1211.
Designate your Retirement Plan or Life Insurance
Beneficiary designations are an easy and affordable way to support the work of Packard Children’s at a future date. These designations can save your estate from onerous taxes.
or call Donna
M. Bandelloni at (650) 736-1211
Retirement Plan Gifts
Did you know that the IRS considers the balance left in your plan to be untaxed income? Therefore, any beneficiary (other than a spouse) could face income taxes in addition to estate taxes on your retirement account balance. You may lose up to 70% to taxes before your child, relative or heir receives it! If you name Lucile Packard Children’s Hospital as the beneficiary of your retirement plan, 100% of your retirement assets can help support children’s health.
Life Insurance Gifts
You may make Packard Children’s the beneficiary of a life insurance policy and your estate will receive a charitable deduction from estate taxes for that gift. Give us a paid up policy you may no longer need.
Frequently Asked Questions
How does a Beneficiary Designation work?
1. On your retirement plan or life insurance beneficiary form, indicate how much of the remaining fund should be designated to Packard.
2. Return the form to your plan administrator.
Do I need to include any specific information on the form?
Yes. The beneficiary form requires Packard Children’s legal name, address and tax ID number:
Lucile Packard Foundation for Children’s Health*
400 Hamilton Avenue, Suite 340
Palo Alto, CA 94301
Federal Tax ID Number: 77-0440090
Can I join the legacy society if I have included Packard as a beneficiary to my retirement plan?
Yes, If you have named Packard as a beneficiary to your retirement plan then we welcome you to join our our Lucile Salter Packard Society.
* Lucile Packard Foundation for Children's Health, an independent 501(c)(3) not-for-profit corporation, fundraises for Lucile Packard Children's Hospital and the pediatric programs at Stanford University School of Medicine.
This is not professional tax or legal advice. Donors must consult their tax and legal advisors regarding their specific situation.