What if you aren’t eligible to make a current IRA gift?

October 1, 2013

Retirement assets are also excellent options as planned gifts. Naming IJ as a beneficiary of these accounts allows you to make a gift without the need to change an existing will or other financial plans. And these gifts offer flexibility because they can be revoked if your plans or circumstances change.

Because of the unfavorable tax consequences of leaving tax-deferred accounts (like many retirement plans) to non-spousal beneficiaries, these assets can be particularly good candidates for charitable giving. For example, when you name a child as the beneficiary of a retirement account, the account may be subject to estate taxation. On top of that, your child may have to pay income tax on the distribution of plan assets. As a charitable gift, however, the full amount goes to IJ and our fight for liberty.

Like IRA rollover gifts, these gifts are easy to make. Simply contact your plan administrator and ask for a beneficiary designation form. Naming IJ as a primary or partial beneficiary of your retirement account qualifies you for membership in our Four Pillars Society, which recognizes friends and supporters who have made a commitment to defending and preserving liberty through their estate plans.

If you have questions or would like more information, or if you already have included IJ in your plans, please let us know. Doing so allows us the opportunity to express our appreciation for your support, which makes all our work possible.

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