Page 34 - Alumni Horae: Vol. 93, No. 2 Winter 2013

32 For a confidential conversation, please contact Bob Barr, director of gift planning, at 603-229-4875,rbarr@sps.edu;
or visit our website at www.sps.edu/plannedgiving.
Meet Kit Kittredge ’43. Even before the
“fiscal cliff” tax deal earlier this year,
he had already made St. Paul’s School
a beneficiary of his retirement plan.
“Some years ago, a tax adviser explained
the disadvantage of giving an IRA remain-
der to children,” Kit recalls. “A huge amount
of its value goes to taxes. But with a dona-
tion to a nonprofit, 100 percent goes to
the recipient – an easy decision!”
Under the new law and depending upon
the makeup of your estate, at death your
IRA could lose 40 percent or more of its
value to Uncle Sam. Additionally for cal-
Kit Kittredge ’43
makes an easy decision
endar year 2013 only, the early-January
tax agreement allows direct rollover
from traditional IRAs to qualified char-
ities (including SPS) in amounts up to
$100,000. (You must be at least 70½.
The rollovers can also satisfy required
minimum distributions.)
So consider this a tax-efficient way to
make pledge payments to St. Paul’s, or
to make payments credited to this and/
or future years (say, your next reunion,
for example). Including St. Paul’s School
in your estate plans, either as a beneficiary
of your IRA or in some other way, makes
good sense tax-wise.