A Gift of Retirement Plans

The perfect gift asset

While 401(k)s, IRAs and other retirement plans are excellent vehicles for accumulating assets for your use during retirement, much to many people’s surprise, they are a far less attractive way to pass an inheritance to loved ones. This is because retirement plan assets are often subject to heavy income and possible estate taxes when they go to a non-charitable beneficiary. These taxes can deplete a significant percentage of your hard-earned savings–leaving less for heirs than you had hoped.

If you would like to include a gift to help patients and families through your estate, consider the tax-smart strategy of naming SECU Family House at UNC Hospitals the beneficiary of retirement plan assets and leaving other less-taxed assets to your heirs. Because of our tax-exempt status, the full value of your retirement plan assets make a difference in the lives of patients and families staying here as guests.

Steps for Gifting Your Retirement Plan

Donating retirement plan assets is easy. And if you need to change or revoke your gift at any point during your lifetime, you can. Take these simple steps:

  1. Contact your retirement plan administrator for a simple change-of-beneficiary form.
  2. Decide what percent (1 to 100) you would like Family House to receive.
  3. Name SECU Family House at UNC Hospitals and the gift percentage on the form.
  4. Return the form to your plan administrator.
  5. Contact Martha Aldridge (martha@secufamilyhouse.org) at Family House to let us know of your plans.