How to Complete Your Gift
Once you've considered the tax implications, you'll see the value of leaving your retirement plan assets to us.
If you've decided to shield your heirs from heavy income taxation by making a charitable donation of your retirement plan assets upon your death, simply contact your retirement plan administrator for a change of beneficiary form. Then decide what percentage you would like OHSU Foundation to receive, and name us, along with the percentage, on the beneficiary form. Note that if you are married, your surviving spouse is usually entitled by law to receive the entire amount in certain qualified plans (but not IRAs). Your spouse, however, can sign a written waiver allowing the gift to us. Finally, return the form to your plan administrator, and keep a copy with your will and other estate planning documents.
The more money you have in an employee retirement plan, IRA or tax-sheltered annuity, the more money your heirs will be obligated to pay in income taxes.
For More Information
Consulting an estate planning attorney is a smart investment that can save you and your family money and heartache in the long run. Please seek legal advice before deciding who will get what in your estate plan.
|Download a free guide with tips on preparing to meet with your estate planning attorney.|
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