Retirement plan assets offer yet another vehicle to support your charitable giving. These include, but are not limited to, IRA’s, 401K, 403b, pension plans, annuities, etc. Two ways a retirement plan can be used to make a gift are: the change of beneficiary or the change of ownership. Current tax laws frequently hold retirement plan assets to a high level of income and estate taxes. Utilizing these assets to make a charitable donation may be an effective giving vehicle for you.
Because of the complexity of retirement plans and tax laws, a tax specialist or an attorney should be consulted prior to making a gift. These professionals can help you develop a strategy for these assets that will best suit your individual financial situation.
Call or email Gary L. Nelson, Planned Giving Manager at 402-451-0787, ext 339 or by cell at 402-560-7123.