Retirement plans and IRAs are often overlooked when considering a planned gift.  Because most retirement plans and IRAs (the Roth IRA being an exception) are not taxed until withdrawals are made, the federal government places a heavy tax burden on them at the time of your death, especially if you wish to pass these funds to your children.  In many cases, the total tax burden can exceed 80% if you name your children as beneficiaries.  Taxes are also imposed on withdrawals during your lifetime.

One way to avoid this problem is to name “The Foundation for Evangelism, Lake Junaluska, North Carolina” as a beneficiary of your retirement plan or IRA.  You can specify a fixed dollar amount or a percentage of the plan assets as the amount of your gift.  Since assets in retirement plans and IRAs are expected to grow, a percentage gift offers the most assistance to The Foundation.

To name The Foundation for Evangelism as a beneficiary of your retirement plan, you must complete a new beneficiary form, which can be obtained from the administrator or investment manager of your plan.  You can obtain the appropriate form for your IRA from the institution where your IRA is managed.  Married persons may need to complete an additional form.