401(k), 403(b) and IRAs

Maximize value by avoiding income and estate taxes.

Assets held in 401k and IRA accounts require special consideration in your financial and estate planning. The law requires that you pay income tax on any withdrawals from the accounts, diminishing their value for you and your heirs. If you leave retirement assets to family members in your estate plan, an estate tax may be levied as well. This double taxation could leave as little as 36% of the asset for your heirs.

By donating retirement assets to the Community Foundation during your lifetime, you can remove them from your estate, preserve more of their value, and you may be eligible to receive a deduction for the gift.