Support the Florida Pharmacy Association thru Planned Giving

 Leaving life insurance for planned giving involves designating MNindys as a beneficiary of your life insurance policy. This allows you to make a significant charitable contribution upon your passing, often with tax benefits for your estate. There are multiple ways to use life insurance for planned giving, including donating an existing policy, purchasing a new policy with the charity as the beneficiary, or transferring ownership of a policy to the charity. This method ensures that your philanthropic goals are fulfilled while potentially providing financial advantages to your heirs and estate. 

 Leaving a financial account for planned giving involves designating MNindys as the beneficiary of an account, such as a savings account, investment portfolio, or retirement fund. This allows the funds to be transferred to MNindys upon the your passing, ensuring a lasting philanthropic impact. Planned giving can be arranged through beneficiary designations, trusts, or donor-advised funds, offering potential tax benefits while supporting a meaningful cause. 

 Leaving Required Minimum Distributions (RMDs) is a tax-efficient way to support MNindys while fulfilling IRS withdrawal requirements. Individuals aged 73 and older must take RMDs from traditional IRAs and other tax-deferred retirement accounts. Instead of taking the distribution as taxable income, donors can direct up to $100,000 annually (indexed for inflation) to a qualified charity through a Qualified Charitable Distribution (QCD). This reduces taxable income while supporting a cause, making it an effective strategy for philanthropy and estate planning. 

 Commit to leaving a $5000 in your will or estate plan to support MNindys. Becoming a member will allow you to leave a lasting legacy that aligns with your values and ensures continued support independent pharmacies in Minnesota. You will be recognized and honored at different events throughout the year and be kept abreast on fundraising accomplishments.