Retirement Accounts

Giving through your retirement account is one of the most tax-wise ways to give. Your retirement assets, an IRA or other retirement accounts such as a SEP IRA, 401(k), 403(b), if left to your family (other than a spouse), will be subject to income tax in addition to any applicable estate tax. With a gift to Navian Hawaii, 100 percent of the funds are available for our charitable purposes. If you want to remember us in your estate plan, it is often better to leave other types of assets – cash, securities, real estate – to your heirs and give the more heavily taxed retirement asset to Navian Hawaii.

Life Insurance Policies

If you’re still carrying a life insurance policy you or your family no longer needs, please consider donating it to Navian Hawaii. Your gift will help us further our mission. Transfer ownership of your paid-up insurance policy by naming Navian Hawaii as the irrevocable owner and beneficiary. You’ll receive an immediate charitable income tax deduction based on the current value of the policy.

Navian Hawaii retirement life giving

IRA Charitable Rollover (QCD Gift)

If you’re 70 ½ years old or older, an IRA charitable rollover is a smart way to make a tax-free outright gift to Navian Hawaii using your qualified retirement plan. This gift may also satisfy your required minimum distribution (RMD).

How Do I Qualify?

  • You must be 70 ½ years old or older at the time of the gift
  • Gifts must go directly from your IRA to Navian Hawaii
  • Gifts must come from a traditional IRA or Roth IRA account
  • Gifts cannot exceed $100,000 per donor per year

Other Financial Accounts

You may find that you own certain assets other than retirement accounts or life insurance that you wish to use for a gift to Navian Hawaii when you pass away. A simple beneficiary designation form known as “Pay on Death (POD)” or “Transfer on Death (TOD)” will accomplish this for you. You can use these forms for a brokerage account, bank account, certificate of deposit, Donor-Advised funds, or other financial accounts that you want to come directly to Navian Hawaii upon passing and your estate will receive an estate tax charitable deduction for this gift.

For more information please contact us at 808-791-8084 or email development@navianhawaii.org.

The Benefits

The SECURE Act increased the age at which you must start taking required minimum distributions (RMDs) from 70½ to 72. If you have not reached age 72 and aren’t required to take your RMD there are reasons to consider a QCD at 70½. First, increases in the standard deduction mean far fewer taxpayers are able to itemize their income tax charitable deductions. If you don’t itemize, a QCD offers all the benefits of an income tax charitable deduction. You can’t claim a deduction for your QCD, but your QCD is not included in your income. The QCD is a tax-free gift.

Another reason to consider a QCD at 70½ is to reduce the balance in your IRA. At age 72 or older your RMD is based on the balance in your IRA at the end of each year multiplied times a factor published by the IRS. You may be in a position where you don’t want or need the income from your IRA. Higher income can increase Medicare premiums and other tax issues. Consider making QCDs at 70½ to reduce the balance in your IRA. Please consult your IRA administrator’s website for a form to initiate an IRA charitable rollover (QCD).

The SECURE Act has changed rules that may affect aspects of your financial plans. As always, please talk with your advisor to discuss whether this gift option might work for you.