Benefits

• Naming us the primary beneficiary avoids all income and estate taxes
• Partial savings when you give us a specific amount before giving family the remainder
• Naming us the contingent beneficiary allows for greater flexibility
• Donating retirement plan assets could be the most cost-effective gift you can make

Did you know that your retirement plan assets are facing double taxation? If you leave the assets to your heirs, you'll generate "income in respect of a decedent." So not only is the amount diminished by estate taxes, but the recipient also must pay income taxes on it!

If you can make other provisions for your family, there's a better option for your retirement plan assets -- a charitable gift.

To implement your wishes, simply advise the plan administrator of your decision and sign whatever form is required. For an IRA or Keogh plan you administer personally, notify the custodian in writing, and keep a copy with your valuable papers.