Give to IJ, Not to Bureaucrats
Retirement plan assets can vanish under a plethora of heavy-handed taxes after the owner dies, including federal and state death taxes, income taxes and excise taxes. The result for those of us who name loved ones other than our spouses as beneficiaries can be that as much as 75 percent of the value of the plan can be consumed in taxes before our children, other relatives or friends can make use of it. As a result, the bulk of our hard-earned savings goes to the government—the government!
But there is another way.
Name the Institute for Justice or another charitable organization as the beneficiary of these assets and the full value will go to support our good work defending individual liberty, not to fund some unknown government bureaucrats. Often all that’s needed is to name the charity on the beneficiary designation form that you submit to the plan manager.
You’ll want to contact a qualified advisor (such as your attorney, accountant or financial planner) if you’re considering this type of gift, but what a difference it could make in our fight for limited government. It might just be one of the easiest (and least costly) gifts you’ll ever make.