Planned Giving

IRA Charitable Rollover

Under The Protecting Americans from Tax Hikes Act of 2015, Americans over the age of 70 ½ can distribute up to $100,000 in a calendar year from an IRA to University Liggett School (or other charities) tax-free.  This distribution to charity can be a significant benefit for IRA owners who are required each year to take minimum required distributions, which are included in their gross income for tax purposes.
 
If an IRA owner directs the IRA plan administrator to distribute any amount up to $100,000 to charity, the distribution counts toward the owner’s minimum required distribution, but is not included in his or her income for income tax purposes. Although the IRA owner is not entitled to a charitable deduction for the distribution, the distribution benefits charity. 

How does it work?
  • You must be 70 ½ or older at the time of distribution.
  • Transfers must come from your IRA directly to University Liggett School.  The charitable rollover does not apply to 401(k), 403(b), or other retirement plans.
  • You may distribute any amount up to $100,000 in a calendar year to charity, as long as it’s completed by December 31 of the year in which you intend to make the charitable distribution.
Investing in our school helps to ensure that current and future generations of students will experience the benefits of a University Liggett School education. Your legacy of generosity will not only advance the school’s tradition of excellence, but will also help mitigate your tax burden. 

Steps for Directing a Charitable IRA Rollover to University Liggett School
  • Contact your IRA plan administrator for their specific transmittal form or use our letter to request a gift transfer from your IRA to University Liggett School.
  • For credit in 2018, please make your transfer on or before December 31, 2018.
For more information or questions, please contact Cressie Boggs at 313.884.4444, ext. 413 or cboggs@uls.org.

Liggett

University Liggett School, a top Metro Detroit private, independent school, is located at 1045 Cook Road Grosse Pointe Woods, MI 48236 313-884-4444