How It Works
You name the Christian Training Center International as the sole or partial beneficiary of your IRA, 401(k), or other qualified plan using the beneficiary designation form provided by your financial institution.
You continue to make withdrawals from your account during your lifetime. Any residual left in your account after passing will flow to the ministry tax-free according to your allocation on your beneficiary designation form.
Donors age 70 ½ and older may direct lifetime distributions from their IRAs to the Christian Training Center International. This distribution will count toward your required minimum distribution, and will not be included in your taxable income. You can make contributions totaling up to $100,000 to the ministry and other charities annually.
You can escape both income AND estate tax levied on the residual left in your retirement account by leaving a gift to the ministry because we are a non-profit organization and do not pay taxes on the transfer. These taxes can eat up the principal of your account when transferred to your heirs.
You can continue to take withdrawals during your lifetime.
You can designate all or a percentage of your account, and can change your beneficiaries at any time. There is no charge to update your beneficiary form.