MAKE THE ALUMNI ASSOCIATION A BENEFICIARY OF YOUR RETIREMENT ASSETS
By making the Stuyvesant High School Alumni Association the beneficiary of your retirement assets, such as an IRA, 401(K), 403(B), etc., you eliminate the potential for double taxation (federal estate and income taxes) that your heirs may face if they were named beneficiary of this asset.
Benefits of MAKING THE ALUMNI ASSOCIATION A BENEFICIARY OF YOUR RETIREMENT ASSETS
- Estate and income taxes on an IRA when an owner passes away may be 60% or more.
- By transferring your retirement assets to the Stuyvesant High School Alumni Association directly upon your death, your estate may claim a charitable estate tax deduction. Neither your estate nor your heirs will have to report any taxable income from the distribution. The Stuyvesant High School Alumni Association will keep 100% of the IRA assets and apply them to a charitable purpose under the Alumni Association that you choose.
- By eliminating estate and income taxes of your IRA assets, making the Stuyvesant High School Alumni Association the beneficiary of your retirement assets is one of the most tax efficient ways to fund a charitable gift from your estate.
HOW TO MAKE A GIFT OF RETIREMENT ASSETS
The best way to make a gift of your retirement assets is to name the Stuyvesant High School Alumni Association as the beneficiary on your beneficiary designation forms. To designate the Stuyvesant High School Alumni Association as a beneficiary of your retirement assets, simply contact your plan custodian and he or she will provide you with the beneficiary designation forms to make this bequest.
Contact us
If you have any questions about gifts of retirement assets, please contact us. We would be happy to assist you and answer any questions that you have.
The Stuyvesant High School Alumni Association does not provide tax, legal or financial advice. Any document or information shared by our staff is intended to be educational. The Alumni Association strongly encourages all of our benefactors to seek counsel from their own legal and financial advisors. Please know that any information or documents shared by the Stuyvesant High School Alumni Association cannot be used to avoid tax-related penalties.