Gifts of Retirement Assets
A unique and often overlooked way to make a charitable gift through your estate plan is to name JABA, Inc. as a beneficiary of all or a portion of a retirement account, such as an IRA, 401(k), 403(b), a Keogh, or other qualified retirement savings plans.
Under current tax law, retirement assets that are bequeathed to heirs or individuals other than your spouse are often severely reduced by estate and income taxes. JABA’s charitable status avoids the heavy taxes your heirs could incur if they receive your retirement assets. Most often, all that is required is to name JABA, Inc. on the beneficiary line when you sign up for your retirement plan, or to modify your current election by notifying your plan administrator.
To learn more about making a gift of retirement assets, please contact Kim Peel, Director of Philanthropy at 434-817-5221 or email Kim Peel.