Retirement Plan Assets

Retirement Plan Assets

Many people have discovered that retirement assets are not without estate and income tax consequences to their heirs. With a donation of retirement plan assets to the Calumet Theatre, donors retain the assets for their use during their lifetime and upon death the assets passed to the Calumet Theatre will be deducted from the taxable estate. . The easiest and maybe the best way to do this is for the Theatre to be named the first, second, or last beneficiary for part or all of the proceeds left in the fund at the death of an individual and/or spouse. Retirement assets may also be used to fund charitable remainder trusts to provide an annual income for the life of a surviving spouse and also benefit children.

Consulting a trusted advisor would be a beginning point for arranging for the transfer of retirement assets to the Calumet Theatre. Making a gift through retirement plans is easier than making a gift through a will. The donor will need to contact the administrator of a qualified retirement plans for specific instructions.