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Bequest for IRA Distribution

  • 1.  Bequest for IRA Distribution

    Posted 16 days ago
    Good Morning All

    I am currently drafting a gift agreement for a donor who intends to leave a percentage of his IRA to the university, is there certain language that I need to use? Also is there any restrictions/precautions I need to take?

    Thank you 
    Farida

    Farida Ahmed
    Director, Gift Administration
    The American University in Cairo


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    Farida Ahmed
    Director, Gift Administration
    The American University in Cairo
    farida@aucegypt.edu
    ------------------------------


  • 2.  RE: Bequest for IRA Distribution

    Posted 16 days ago
    No, there's nothing special.  It's similar to bequeathing any asset.  The bequest is revocable, so there's nothing you can "book" other than the intention.  The agreement should be as specific as possible regarding the holding and the percentage.  It would also be nice if you had a copy of the beneficiary designation from the IRA custodian.

    John

    John H. Taylor
    Principal
    John H. Taylor Consulting, LLC
    2604 Sevier St.
    Durham, NC   27705
    919.816.5903 (cell/text)

    Serving the Advancement Community Since 1987






  • 3.  RE: Bequest for IRA Distribution

    Posted 14 days ago
    Thank you John for your reply and help as usual :)

    ------------------------------
    Farida Ahmed
    Director, Gift Administration
    The American University in Cairo
    farida@aucegypt.edu
    ------------------------------