BENEFICIARY DESIGNATION GIFTS

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.

What are the benefits of gifts of retirement assets?

• Simplify your planning
• Support the causes that you care about
• Continue to use your account as long as you need to
• Heirs can instead receive tax-advantaged assets from the estate
• Receive potential estate tax savings from an estate tax deduction

How do I make a gift of retirement assets?

To leave your retirement assets to EqualityMaine, you will need to complete a beneficiary designation form provided by your retirement plan custodian. If you designate EqualityMaine as beneficiary, we will benefit from the full value of your gift because your retirement assets will not be taxed at your death. Your estate will benefit from an estate tax charitable deduction for the gift.

How do I make future gifts from my retirement assets?

Did you know that 40%-60% of your retirement assets may be taxed if you leave them to your heirs at your death? Another 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 EqualityMaine. 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 Heide at hlester@equalitymaine.org. We would be happy to assist you and answer any questions that you have.