NOTICE

* THANKSGIVING HOLIDAY CLOSURE: We will be closed on Thursday and Friday, November 22 and 23.
* THANKSGIVING FOOD BOXES: As of November 15, all T-G boxes have been reserved. To request a regular food box, call 503-235-8431 or visit our office.
* CHRISTMAS FOOD BOX REQUESTS: We will begin taking these requests on November 7 (tel: 503-595-2292).
* IN CASE OF INCLEMENT WEATHER: Closure information for the Council can be found HERE .

Retirement Gifts

 

What is the advantage in making the Society of St. Vincent de Paul a beneficiary of my retirement plan?

A designation in your IRA or other retirement plan may be a very cost effective way of making a gift to the Society of St. Vincent de Paul. If you leave your retirement plan to your children, they will have to pay income tax on either the lump sum distribution or the income stream from the plan. The Society of St. Vincent de Paul do not have to pay these taxes. Here’s an example of what this can mean to your heirs:

A widower died a few years ago. He left his $300,000 house to charity and his $300,000 retirement plan to his relatives. He should have done just the opposite. The relatives had to pay income tax on the $300,000 in the retirement plan, an $80,000 cost to them. If they had received the home, and the charity had received the retirement plan payment, not one would have paid income tax.

For more information on the advantages of retirement gifts to the Society of St. Vincent de Paul, call Charlotte Mulder at 503-238-5567 or send an email to: charlotte@svdppdx.org

 Posted by on June 5, 2013 at 4:02 pm