Planned Giving
Retirement Plan Assets
aming
Emma Willard School as a beneficiary of a qualified retirement plan
(IRA, 401(k), Keogh, SEP and others) can be a particularly attractive way
to make a gift. Because these plans are taxed so heavily, surprisingly little
of the assets in the plan may end up the hands of family members or beneficiaries
after your death. Since these assets accumulate on a pre-tax basis, distributions
to beneficiaries after your death are subject to federal income taxes. These
assets are also included in calculating your gross estate, which can mean
that they are subject to federal estate taxes as well.
Using the assets to make a charitable gift to Emma Willard School generates an estate tax charitable deduction. Further, Emma Willard School will not have to pay income tax on the assets when they are received. So, using plan assets for a gift to Emma Willard and other assets for family members can be beneficial to all.
For more information, contact Michele Susko, Associate Director of Advancement, at (518) 833-1788 or by email at msusko@emmawillard.org.
