Gifts of Retirement Assets
Donating part or all of your unused retirement assets, such as your IRA, 401(k), 403(b), pension or other tax-deferred plan, is a generous way to support Father Joe's Villages.
If you are like most people, you probably will not use all of your retirement assets during your lifetime. You can make a gift of your unused retirement assets to help further our mission.
Benefits of gifts of retirement assets
- Avoid potential estate tax on retirement assets
- Your heirs will avoid income tax on any retirement assets funded on a pre-tax basis
How to make a gift of retirement assets
To leave your retirement assets to Father Joe's Villages, you will need to complete a beneficiary designation form provided by your retirement plan custodian. If you designate Father Joe's Villages as beneficiary, we will benefit from the full value of your gift because your IRA assets will not be taxed at your death. Your estate will benefit from an estate tax charitable deduction for the gift.
More on gifts of retirement assets
Did you know that 60%-70% of your retirement assets may be taxed if you leave them to your heirs at your death? A smarter option is to leave your heirs assets that receive a step up in basis, such as real estate and stock, and give the retirement assets to Father Joe's Villages. As a charity, we are not taxed upon receiving an IRA or other retirement plan assets.
Contact us
If you have any questions about gifts of retirement assets, please contact us.
Please let us know if you have already included Father Joe's Villages as a beneficiary of your retirement assets. We would like to thank you and recognize you for your gift.