Retirement Accounts

Most retirement plans are tax-deferred, which means that you will not need to pay income tax on retirement plan assets until they are distributed. Retirement assets that are not distributed during your lifetime may be subject to both income and estate taxes, and so these may be among the costliest assets to leave to family members through your estate.

A retirement asset can make an ideal gift to a tax-exempt charitable organization; your estate may receive valuable tax savings. In addition, unlike an individual beneficiary, a tax-exempt non-profit like Fair Share Education Fund will not be subject to income tax on the value of the account; consequently, leaving retirement account funds to a nonprofit can maximize the final value of your gift.

It’s simple to name or change your plan beneficiary. After checking with your advisors on what is right for you, ask the administrator of your retirement plan for a beneficiary designation form, fill it out, and return it to the administrator.

For more information, including our tax identification number and other resources regarding legacy giving, please call our Planned Giving Coordinator at (800) 841-7299. Donations to Fair Share Education Fund may be tax-deductible. Your attorney or financial advisor can evaluate the effect upon your estate of a gift to Fair Share Education Fund.

Click here for other ways to include Fair Share in your estate plan.