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?

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.