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Lycoming College is pleased to announce the launch of a new website featuring estate and personal planning resources as a benefit to alumni and friends of the institution. The website — www.lycominglegacy.org — provides valuable information on a variety of topics including the creation of a last will and testament; tax-efficient ways to provide for your family and/or the charitable causes you are most passionate about; how to create streams of income for retirement; and much more. Articles dealing with personal planning, tips for savvy living, financial news, and reports from Washington will be updated weekly.
"Many alumni and friends of Lycoming choose to provide for the College in their estate plans and for that we are extremely grateful," said Robb Dietrich, senior director of major and planned gifts. "But regardless of whether or not Lycoming is a philanthropic priority for visitors to the site, I hope the resources found there can help individuals plan well for their future, provide for their families, and thoughtfully consider the legacy they want to leave. Estate planning is really about communicating what is most important to you in life."
In addition to the resources found on Lycoming's planned giving website, the College is also offering two new online tools through a collaborative partnership with FreeWill, a national leader in making estate planning accessible.
The first, www.lycoming.edu/bequest, is a free online service to create a legally valid will. It is a simple, intuitive, and efficient way to ensure your assets are distributed according to your wishes upon your passing. It also allows you to create other important end-of-life planning documents such as an advance care directive and a durable power of attorney.
The second tool, www.lycoming.edu/qcd, simplifies the process of making a qualified charitable distribution (QCD) from an individual retirement account (IRA). Individuals who are 70 ½ or older are required by the IRS to take minimum distributions (RMD) from any IRAs they may own, regardless of whether or not they need the income. This can trigger significant tax liabilities. A qualified charitable distribution satisfies the RMD and can lower or eliminate additional taxes. This tool helps individuals complete the documentation necessary to make these tax-efficient gifts, whether to Lycoming or other charities.
For more information about Lycoming’s new planned giving website and/or the online tools for wills and QCDs, contact Robb Dietrich, senior director of major and planned gifts, at 570-321-4401 or firstname.lastname@example.org.