Gift from Retirement Plan
Gift of Retirement Accounts (IRA, 401(k), 403(b) and other pension plans)
Qualified Retirement Plans can be taxed heavily in estates. If an estate is taxable on the state or federal level, these assets are included in that calculation. Also, when these assets are left to individuals, the income tax rates (state and federal) of those individuals will apply to the assets, reducing the amount ultimately received by those individuals.
By naming a charity, such as Pen Bay Healthcare Foundation, as beneficiary 100% of the asset will become a charitable gift, avoiding any estate or income taxes. Planning for the disposition of these kinds of assets is extremely important for those who desire to create tax efficiency in their planning.
If you would like to explore how a gift from your retirement plan could help you and your family to achieve your personal financial and charitable planning goals, please contact the staff at (207) 594-6705 or email@example.com.
None of the foregoing is intended as estate, tax or legal advice of any kind. Your unique situation requires that advice of your independent, qualified legal, tax and/or financial advisor(s). Pen Bay Healthcare Foundation adheres to the Model Standards of Practice for the Charitable Gift Planner and the Donor Bill of Rights.
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