Qualified Retirement Plans


Making a gift of a qualified retirement plan asset such as a 401(K), 403(b), IRA, Keogh or pension plan is another way to benefit the NCSBS and receive significant tax savings. Retirement plan assets are often subject to extremely high estate taxes, and the income is fully taxable when received by an individual beneficiary. By naming the NCSBS as the beneficiary of a retirement plan, the donor maintains complete control over the assets during his/her lifetime, but at the donor’s death the plan passes to the NCSBS free of estate taxes. When creating an estate plan, donors may wish to consider leaving his/her heirs other assets, such as cash and securities, which are not as highly taxed.