Recording IRAs as Planned Gifts

Cory Whitehead

We received our first notification that we are named in an estate as a beneficiary to an IRA account. I could use some help with the data recording of this in the Planned Gift module. What would you name as the Gift Type and the Vehicle--would you create IRA and record it as that in both cases? We don't know the amount yet, but RE requires a gift amount--how do you get around that? 

Jennifer Ledfors

Cory Whitehead:

We received our first notification that we are named in an estate as a beneficiary to an IRA account. I could use some help with the data recording of this in the Planned Gift module. What would you name as the Gift Type and the Vehicle--would you create IRA and record it as that in both cases? We don't know the amount yet, but RE requires a gift amount--how do you get around that? 


​Hi Cory, I don't know the answer for RE Planned Gift module but for another database I previously used for legacies/planned gifts, some organizations would enter $1 until a value was known.