Retirement Assets

You may find that gifts of retirement assets can save your heirs undue tax burdens and allow you to accomplish your charitable objectives. When you bequeath retirement assets to your heirs, you are leaving them taxable assets. After your heirs pay the taxes due on these assets, their inheritance will be considerably less than the original amount. However, if you bequeath retirement plan assets to the Global Fund for Women, we will not have to pay income taxes on the assets. This will allow you to make a larger gift and possibly save other nontaxable assets for your heirs.

You may also want to consider setting up a charitable trust with retirement assets. With a trust, you simply transfer your retirement assets to the Global Fund for Women as the last beneficiary. The trust can provide payments for your spouse or another loved one for the rest of his/her life. After the death of your beneficiary, the assets remaining in the trust can be used by the Global Fund to continue our work. There will be no estate or income taxes imposed on the assets at the time of the gift.

This information is not intended as specific legal advice. Consult your attorney when considering any legal matter. State laws which govern wills and contracts vary and are subject to change.

The information on this page is reprinted with permission of Converse and Associates.
© 2001 Converse & Associates.


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