Individual Retirement Account (IRA)

One of the most attractive ways to make a commitment to fighting prostate cancer is to name the PCF as a beneficiary or contingent beneficiary of your Individual Retirement Account (IRA).

An IRA is one of the most tax-efficient assets you can leave to charity. If you leave the assets of your IRA to your children or other heirs, they will have to pay income tax on the distributions, in addition to the estate taxes your executor may have already paid. But, if you leave the assets to a qualified charity such as the PCF, this double taxation is avoided.

In addition to being tax-efficient, this method is quite simple, requiring only a change of beneficiary designation using the appropriate form. Ask your IRA trustee or custodian for the appropriate form to make the change.