INCOME GIFTS - ESTATE GIFTS - RETIREMENT GIFTS - PERSONAL PROPERTY- REAL ESTATE
You may have accumulated funds in your company pension plan, Individual Retirement Account, or other private fund which are beyond your needs or potentially subject to the federal excise tax on over-funded retirement plans. It may be convenient and tax wise in such a case to make a current or future charitable gift from those accounts.
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Minimize Taxes |
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Careful planning can minimize the taxes due on retirement plan assets during life and at death. Rather than see retirement assets absorbed by taxes to a greater or lesser degree, individuals can direct that such assets be used to make charitable gifts from their estates. This can actually result in more assets being received by your family members than if charitable gifts were made from other funds in the estate. |
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A Simple Gift to Make |
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After you have discussed your estate and financial plans with your advisors and have decided you would like to make a gift from your accumulated retirement assets, the procedure is simple. Ask the administrator of your plan for a Change of Beneficiary form, and indicate the amount of percentage of assets you wish to be used for charitable purposes. |
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For More Information |
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Ms. Mary Moran Perry |
Giving to HMS 