Gift of Retirement Funds
Tax-Wise Gifts from Retirement Funds can
Benefit you and Support Lifelong Learning
Many people have invested in one or more retirement plans. Throughout retirement, investors will withdraw funds from the retirement plans for required withdrawals and for special purposes. It is likely, however, that some assets will remain in the retirement funds at the end of the investor’s lifetime.
Wise Tax Planning:
Naming Elderhostel as a Beneficiary of Your Retirement Funds
Assets withdrawn by retirement plan holders during lifetime are taxed as ordinary income — unless the withdrawal is a made by a plan holder 70 ˝ years old or older, as a qualifying tax-free gift from an IRA. Click here to read more.
Assets remaining in a retirement fund at the plan holder’s death are also subject to income tax — unless the beneficiary is a spouse or a charitable organization;
Assets can also be subject to estate tax, depending on the size of the estate.
For these reasons, many supporters choose to designate charitable organizations as beneficiaries of IRAs and other retirement funds and to give other assets to their heirs. For examples of potential tax savings, please contact Ann Lamond.
Tax-Free Gifts from IRAs
Legislation has been enacted that renews the opportunity for supporters 70 ˝ and older to make tax-free gifts from their IRAs.
to read how to make these gifts.
To discuss a gift of a retirement fund, contact Ann Lamond
, Senior Leadership & Planned Giving Officer.
Elderhostel Planned Giving
11 Ave de Lafayette
Boston, MA 02111
877-737-0664 (toll free)