National Society of the Daughters of the American Revolution

3 Ways to Leave Your Legacy

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Retirement Plans and IRAs If you want to make a difference at the National Society Daughters of the American Revolution after your lifetime, consider a tax-wise gift from your retirement plan or IRA. Here is why: By way of background, usually an inheritance does not trigger taxable income either to your estate or heirs. There are, however, a few instances when a beneficiary must pay income tax on an inherited asset. Typically, a retirement plan or IRA will be the largest source of assets that generate taxable income when paid to the beneficiary. Therefore, if you are considering a gift to charity after your lifetime, leaving nontaxable assets (such as stocks and real estate) to your loved ones and the taxable assets (retirement accounts and IRAs) to tax-exempt charitable organizations such as NSDAR is usually better. To complete your gift, you can either contact your retirement plan or IRA administrator and complete a beneficiary designation form naming NSDAR as beneficiary and the percentage you would like us to receive (1–100) or download the form from your provieder's website. Then mail it back to the plan administrator and keep a copy for your records. Beneficiary forms are filled out on your terms and can be changed at any time without the formality of lawyers. e 3 Easiest Ways to Leave Your Legacy Beneficiary Designations Although many people think of a will as the easiest way to transfer assets aer their lifetime, it does not cover everything. In fact, retirement plans, Is, life insurance and insurance annuities are not controlled by the terms of your will, but instead use separate beneficiary forms to determine who receives them. ese beneficiary designations pass outside of your will, making them effective and easy ways to leave a legacy that will last for centuries, as the legacy of your patriot has. Call Us Today (800) 449-1776 Visit Our Website

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