What Legacy Will You Leave?
Aviva Shiff Boedecker, J.D.
www.asbcharitableplanning.com
Retirement plans are the most heavily taxed assets in most people’s estates because when heirs withdraw the funds, they must pay income tax, in addition to any estate tax that may have already been paid. By designating a charity, school, religious organization or other nonprofit as a beneficiary of your retirement plan, you can reduce or eliminate taxes, retain complete flexibility and control over all your assets, and leave a legacy that will have a lasting impact.
You and your heirs can avoid both income and estate tax on your retirement account when you give the remainder of the plan to one or more tax-exempt organizations and leave your heirs other, less-taxed property.
With a simple designation of beneficiary form, which is available from your plan administrator, and without impacting your own or your family’s security, you can make the gift of a lifetime.
For more information about making a flexible and tax-wise legacy gift to the organization(s) of your choice, contact Edi or Aviva.
Edi Alvarez, CFP®
BS, BEd, MS