How To Fund With Retirement Plan Assets
Do you have money saved in an employee retirement plan, IRA or tax-sheltered annuity?
Each of these plans contains income that has yet to be taxed. When a distribution is made from your retirement plan account, your beneficiaries will owe federal income tax. Consider leaving your loved ones less heavily taxed assets and leaving your retirement plan assets to Adath Jeshurun Foundation to support our work.
As a nonprofit organization, we are tax-exempt and will receive the full amount of what you designate to us from your plan. You can take advantage of this gift opportunity in several ways:
Name us a beneficiary of your plan. All this requires is updating your beneficiary designation form through your plan administrator. You can designate us as the primary beneficiary for a percentage or specific amount. You can also make us the contingent beneficiary so that we will receive the balance of your plan only if your primary beneficiary doesn't survive you.
With the IRA Charitable Rollover, if you are 70½ years old or older, you can take advantage of a simple way to help those we serve and receive tax benefits in return. You can give up to $100,000 from your IRA directly to a qualified charity such as Adath Jeshurun Foundation without having to pay income taxes on the money.
Fund a testamentary charitable remainder trust. When you fund a charitable remainder trust with your heavily taxed retirement plan assets, the trust will receive the proceeds of your plan upon your death. The trust typically pays income to one or more named beneficiaries for life or for a set term of up to 20 years, after which the remaining assets in the trust would go to support The Adath Jeshurun Foundation. This gift provides excellent tax and income benefits for you while supporting your family and our work.
Fund a testamentary charitable remainder trust. When you fund a charitable remainder trust with your heavily taxed retirement plan assets, the trust will receive the proceeds of your plan upon your death. The trust typically pays income to one or more named beneficiaries for life or for a set term of up to 20 years, after which the remaining assets in the trust would go to support The Adath Jeshurun Foundation. This gift provides excellent tax and income benefits for you while supporting your family and our work.
Next Steps
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Step 1 Contact Talor Blustin at 952.545.2424 or [email protected] for additional information on bequests or to chat more about the different options for including The Adath Foundation in your will or estate plan. |
Step 2 Seek the advice of your financial or legal advisor. |
Step 3 If you include The Adath Foundation in your plans, please use our legal name and Federal Tax ID. Legal Name: The Adath Jeshurun Foundation Address: 10500 Hillside Lane West Minnetonka, MN 55305 Federal Tax ID Number: #36-3529809 |
Information contained herein was accurate at the time of posting. The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results.