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If you leave your retirement plan assets to your heirs they may be taxed twice. After the assets are diminished by inheritance taxes they may be further reduced by the income tax your heirs will have to pay on what they receive! You may be able to avoid double taxation of your retirement assets by naming ORT America as the beneficiary and leaving other more tax-efficient assets to your heirs.
When you make this charitable gift, the death benefit qualifies for a charitable deduction from your estate and 100% the assets pass to ORT America without being taxed. Your heirs may benefit from this arrangement because they can receive other assets, which are not as highly taxed. You also may be also to save taxes by donating your retirement assets today.
You spent a lifetime building your assets to benefit the people and causes you care about. Savvy estate planning and charitable giving can ensure that your intentions are fulfilled. .
ORT America has several Planned Giving programs that can be tailored to your individual financial needs. If you are interested in discussing this very important topic, please contact Senior Director of Planned Giving Hugh Williams at 800.519.2678, ext. 226, or e-mail plannedgiving@ortamerica.org.
If you are interested in developing a personalized gift plan and want to discover which gift options are right for you click here and follow ORT’s Gift Guide.
This information was prepared as an educational service and is not intended as legal, tax or financial advice. Donors should obtain legal, tax and financial opinions from their own professional advisors.
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