If you own a life insurance policy and no longer require its protection, you may consider transferring ownership to CMMB or purchasing a new policy and naming CMMB as a beneficiary.
You can request a “change of beneficiary” form and name CMMB as a sole or partial beneficiary.
Whether you participate in a company retirement plan or a fund you have established, such as an Individual Retirement Account (IRA), you may have investments that are now worth more than will be needed for the comfortable support of you and your family.
IRA Charitable Rollover Gifts
If you are 70 1/2 or older, you can make a qualified distribution from your traditional IRA directly to CMMB of up to $100,000 annually. This doesn’t need to be reported as income and counts towards your Minimum Distribution Requirements (MDR). You should contact your IRA plan administrator for their directions on how to make a charitable contribution to CMMB.
For more information, contact Robert Wuillamey at email@example.com to discuss different options.