Gifts of Retirement Plan Assets

Did you know that your retirement plan assets are facing double taxation? Not only is the amount diminished by estate taxes, but the recipient also must pay income tax on it!

If you make other provisions for your family, there is a better option for your retirement plan assets – a charitable gift.

To implement your wishes, simply advise your plan administrator of your decision and sign the required forms. For IRA or Keogh plans you administer personally, notify the custodian in writing and keep a copy with your valuable papers.

Benefits include:

  • Naming the College the primary beneficiary avoids all income and estate taxes.
  • Partial savings when you give us a specific amount before giving the family the remainder.
  • Naming the College the contingent beneficiary allows for greater flexibility.
  • Donating retirement plan assets could be the most cost-effective gift you can make.