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 account can be gifted to a nonprofit organization such as Fair Share.  Unlike an individual beneficiary, a tax-exempt non-profit like Fair Share 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 resources regarding legacy gifts, please use the form below to email our Planned Giving Coordinator, or call (800) 841-7299.

Contributions to Fair Share cannot be deducted as charitable contributions. However, gifts to our sister organization, Fair Share Education Fund, may be tax-deductible. Your professional advisors can evaluate the effect upon your own estate of a giving a gift to either organization.

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