How to Maximize Your Retirement Plan Assets

If you can make other provisions for your family, there is a better option for your retirement plan assets—a charitable gift after your lifetime. When given to your family, a portion of your retirement plan assets will be consumed by taxes. Instead, leave assets that are less heavily taxed (such as real estate, cash, or life insurance) to your family, and consider using your retirement plan assets to make gifts to tax-exempt charitable organizations, such as ours.

To name us as the beneficiary of your retirement account, simply instruct the retirement plan administrator of your decision and sign the required designation form. 

There are many benefits to donating retirement plan assets.

• Make the most cost‑effective gift you can make and save other less‑taxed assets for loved ones.
• You can change your mind at any time.
• Eliminate all federal income taxes when you name us as the sole beneficiary. (Receive partial savings when you give us a specific amount before giving your family the remainder.)
• Name us as the contingent beneficiary, allowing for greater flexibility.

For Those 70½ or Older

If you’re 70½ or older, you can use your IRA to make a tax-free gift to our organization. Current law allows you to transfer any amount up to $100,000 per year directly to a qualified charitable organization without paying income tax on the distribution. Best yet, your gift will be put to use today, allowing you to see the difference you’re making for those we serve.

• You pay no income taxes on the gift. The transfer doesn’t generate taxable income or a tax deduction, so you benefit even if you do not itemize your tax deductions.
• Beginning at age 72, your gift can satisfy your required minimum distribution for the year.

Secure the Future

To learn more about how your IRA gift will benefit your family and those we serve, contact Aaron Ciszek at (970) 569-7574 or aaronc@vailhealth.org or Anne Walters at (970) 569-7648 or anne.walters@vailhealth.org.

The information in this publication is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results.