Gift of Retirement Assets

Over 59 ½ years of age, consider an outright gift from your IRA or 401(k) or 403(b) plan. Distributions from retirement accounts to a charity are not subject to income tax or estate tax.

Typically a taxable event, you can now claim the full value of the deduction in the year you made the gift.

You do not need to modify your will or living trust.

• Name the Animal Care Sanctuary as the sole beneficiary or as one of several.
• The funds remain available to you to meet your own needs. If circumstances change, you can adjust the portion allocated to the Animal Care sanctuary.
• Remaining funds will be paid to the Sanctuary in a lump sum, totally tax-free at your passing.

Other advantages:

• Easy to arrange. Request a beneficiary designation form from your plan administrator. No need to change your will or living trust.
• Designate the Animal Care Sanctuary as beneficiary of whatever portion you choose.
• Gift is revocable. You retain full control of your retirement funds and you can change beneficiaries at any time.

Have questions or need additional information?

tmckendry@animalcaresanctuary.org

Nothing on this website should be construed as legal advice. Please contact your attorney or financial advisor to determine what is best for your personal situation.