New legislation gives donors aged 70½ and older an opportunity to direct lifetime distributions from their IRAs to St. Jude Children's Research Hospital without incurring income tax liability on the withdrawal. The provision will be in effect for just the 2006 and 2007 tax years. Distributions to St. Jude Children's Research Hospital plus other charitable beneficiaries can total $100,000 per year and must be made outright — they cannot fund a life-income gift. Just e-mail us and we'll be happy to give you more information about this new charitable incentive.

Donors younger than 70½ can make a withdrawal from their IRA or other type of retirement plan, pay income tax on the withdrawal and donate the proceeds to St. Jude Children's Research Hospital. These gifts can be made outright or can fund a life-income gift and will generate a charitable deduction for the donor.