Gifts from a Retirment Plan

How It Works

  • Name IHC as a beneficiary of your IRA, 401(k), or other qualified plan.
  • Designate IHC to receive all or a portion of the balance of your plan through your plan administrator.
  • The balance in your plan passes to IHC after your death.

Benefits

  • Avoid the potential double taxation your retirement savings would face if you designated them to your heirs.
  • Continue to take regular lifetime withdrawals.
  • Maintain flexibility to change beneficiaries if your family’s needs change during your lifetime.

Frequently Asked Questions

How do I arrange a gift from my retirement plan?

Simply contact your IRA or retirement plan administrator and request a copy of the Change of Beneficiary Form. You can fill this in as you wish and include IHC for a portion or all of the remainder of your plan’s assets.

What are the tax implications of a gift of retirement plan assets?

For gifts at death, any portion of your retirement plan assets that are given to a qualified charity will also qualify for income tax, inheritance tax, federal and state estate tax deductions as applicable to the size of your estate and your state of domicile. Any assets coming out of your plan to your heirs may be subject to all of the taxes mentioned above.