Using Your Retirement Plan Assets
A gift of an individual retirement account (IRA) or 401(k) plan can be made by naming GCF as a beneficiary or contingent beneficiary of a percentage of those assets or a set amount of money. Gifts of retirement plan assets avoid income tax (on income in respect of a decedent) that would be applicable to every dollar that comes out of such plans. Estate taxes would also be avoided. Since income and estate taxes can combine to take up to 85% of the value of a retirement plan, these assets are one of the best to use in making a charitable gift from an estate.
The Foundation Society recognizes people who have remembered GCF with a bequest in their will or other type of personal gift. For more information see:The Foundation Society: Recognizing Legacies.
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