Your IRA

A Tool For Justice Until 12/31/07

Are you at least 70 1/2 or older in 2007? If so, you can make tax-free contributions from your IRA until 12/31/07. Here's how it works:

The pension Protection Act was signed in August 2006. It permits IRA owners who are at least 70 1/2 to transfer directly up to $100,000 to WEJF's Acorn Fund at the Greater Milwaukee Foundation.

The transferred amount is excluded from teh IRA owner's taxable income and can count toward the minimum required distribution for 2007.

The transfer must be made directly from the IRA account and must be an outright gift. There is not an income tax decudetion for the transfer, the amount is simply excluded from the owner's income.

Transfers to private foundations, donor-advised funds, and supporting organizations do not qualify.

Prior to making a gift, please contact us to confirm that you are designating our Acorn Fund at the Greater Milwaukee Foundation accurately. Accurate designation is one of the keys to a transfer eligible for this special tax treatment. Once you have received this confirmation, contact your IRA custodian to tranfer your desired amount.

To learn more about planned giving, please contact Wisconsin Equal Justice Fund, Inc.at 715-212-7585. The staff will be happy to talk to you about how you can invest in the future of equal justice.