401K & IRA Gifts

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Please consider naming St. Michael's Media as a beneficiary of all or a portion of your 401K. You need to list the exact name of our organization and include our tax identification number (20-4768921).

For certain types of accounts — including 401Ks — if you are married, your spouse must sign a waiver relinquishing his or her right to the account. (This rule does not apply to IRAs.)

You can also name multiple beneficiaries with a specified percentage of the account for each, or list St. Michael's Media as the contingency beneficiary. This means that if all other beneficiaries are deceased, the account passes to St. Michael's Media.

As always, it is advisable to contact your personal tax advisor. If you have any questions, please contact our Development Department at (248) 545-5716.

IRA Charitable Gifts

Nearly half your retirement plan assets can be eaten away by taxes at your death. Why not take advantage of the federal tax law that makes gifts from your retirement plan's assets easier and simpler — and help St. Michael's Media / Church Militant promote the Faith given to humanity by Jesus Christ, the Son of God and the Messiah?

The Protecting Americans From Tax Hikes Act of 2015, which was signed into law on December 18, 2015, now permanently extends the IRA Charitable Rollover. Individuals aged 70½ or older can transfer up to $100,000 from a traditional IRA or Roth IRA to a qualified charity, like St. Michael's Media, free from any federal income tax.

Making your IRA gift to St. Michael's Media could not be easier. Simply distribute directly from an IRA to St. Michael's Media. It is important not to withdraw the funds prior to your contribution.

Again, if you are aged 70½ or older, the legislation allows you to make cash gifts totaling up to $100,000 a year from your traditional or Roth IRA to St. Michael's Media — without incurring income tax on the withdrawal.

To get started, simply write a letter to your IRA administrator requesting a distribution to be sent directly to St. Michael's Media.

At 70½, you must begin receiving the required minimum distributions from your IRA regardless of whether you actually need the income. Contributing your distribution to St. Michael's Media can cover or count toward your required minimum distribution, and help us.

Proper estate planning can help you avoid a few potential mistakes and decide which method to use for distributing your assets.

As always, it is advisable to contact your personal tax advisor. If you have any questions, please contact our Development Department at (248) 545-5716.