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, simply 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). 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 trump
your will when it comes to passing along these assets at your death, making them effective
and easy ways to leave a legacy that will last for centuries, as the legacy of your patriot has.
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