Quicklinks
Home >
Giving > Ways to Give > Individual Retirement Accounts
page tools :

Individual Retirement Accounts

Many families have accumulated sizable assets in their IRAs, which they plan to pass on to their children. The reality is that ordinary income taxes and estate taxes devour the majority of an IRA's benefits before they ever reach the children. The owner of an IRA can easily indicate Creighton Preparatory School as the death beneficiary for part or all of their IRA. This is a simple transaction which does not require involvement of the donor's attorney.

If you receive a distribution of $1.00 from your IRA, it is taxable income to you. If you are in a combined Federal and State rate of 25%, you would have $.75 left. If you request that your Plan Administrator distribute that same $1.00 to Prep, it is not included in your taxable income and Prep gets the use and benefit of the entire $1.00! It’s like making a gift of $1.00 at the cost of $.75.

Contact your Plan Administrator now to make your tax-free distribution. Contact the Advancement Office at advancement@creightonprep.org on 402-548-6218 for more information.

< back to page list

protecting students

apply here

give to creighton prep

Creighton Prep forms men of faith, scholarship, leadership and service in the Catholic and Jesuit tradition

CREIGHTON PREP

7400 Western Ave
Omaha, NE 68114

402 393 1190

Contact Us
Site Map

Facebook   Twitter   You Tube   Instagram   Flickr

email page print page large type small type
powered by finalsite