WHY GIVE RETIREMENT ASSETS?

Though you may enjoy many tax benefits during your lifetime from your 401(k), IRA, or Keogh plan, the assets in these retirement plans can be heavily taxed when passed on to your heirs. In addition to any estate taxes, retirement plan assets are subject to income taxes, resulting in as much as 75% of these assets going to the IRS instead of your heirs.

LEMON BAY CONSERVANCY AS BENEFICIARY

You can avoid this tax burden, thereby getting the most from your money, by naming Lemon Bay Conservancy as a beneficiary. If you prefer, you can name a family member beneficiary, with the Conservancy as an alternative or contingent beneficiary. Any amount that passes to the Conservancy will do so free of estate and income taxes.

PROVIDE INCOME FOR YOUR HEIRS

If you would like to provide for a family member and also help the Conservancy, you can use the assets from your retirement plan to set up a charitable remainder trust. This is an easy way to make a gift to the Conservancy without affecting your current financial situation --and your heirs will enjoy tax benefits, too.

If you would like further information about making a gift of stock, contact us at 941-830-8922 or lbconservancy@comcast.net.

This information reflects, in very general terms, how a gift might affect specified tax liabilities. This is not an effort to reflect your current tax picture or suggest that a particular gift will have the indicated result in your case; only your lawyer and accountant can do that. We suggest you consult your professionals before acting upon the concepts reflected here.