Retirement plans are subject to a substantial income tax on any balance that you designate to a non-spouse beneficiary. This is an extra tax you will have to pay in addition to the estate tax. As a result, as much as 75 percent of the value of your retirement plan will be spent to cover taxes before your heirs receive it.
To prevent that from happening if your estate is fully subject to the estate tax, you can name the U.S.ENGLISH Foundation a beneficiary of your retirement plan. Our status exempts us from paying income tax on the distribution of this plan and you can use other assets that are not subject to income tax to designate your loved ones without a considerable tax burden.
To request a brochure "Giving Through Retirement Plans," please contact us by email at giving@usefoundation.org or by phone at (202) 833-0100.
Disclaimer: U.S.ENGLISH Foundation does not render legal, tax or other professional advisory services. Advice from an attorney and other professional advisors should be sought when considering charitable giving.
Any citation of the material contained in this website must credit U.S.ENGLISH. No portion of this website may be reproduced or transmitted in any way without the express permission of U.S.ENGLISH. Copyright violations will be prosecuted to the fullest extent of the law.
