Retirement Assets

Donation of Retirement Assets

If you are like most people, it is possible that you will not use all of your retirement assets during your lifetime. Donating all or part of your unused retirement assets, such as your IRA, 401(k), 403(b), pension or other tax-deferred plan, is an excellent way to make a gift to Glenmary in support of the missions.

Benefits of Donating Retirement Assets

• You can avoid potential estate tax on retirement assets.
• Your heirs can avoid income tax on any retirement assets funded on a pre-tax basis.
• You may receive potential estate tax savings from an estate tax deduction.
• You will help ensure that Glenmary missioners continue to minister to rural America today, and in the years to come.

How to Donate Retirement Assets

To donate all or part of your retirement assets to The Glenmary Home Missioners, you designate The Glenmary Home Missioners as beneficiary. To do so, complete a beneficiary designation form provided by your retirement plan custodian. Glenmary will benefit from the full value of your gift because your IRA assets will not be taxed at your death. Your estate will benefit from an estate tax charitable deduction for the gift.

Thanks to FreeWill, you can easily plan beneficiaries for your IRA, 401(k), pension, bank and brokerage accounts, or life insurance in one place.

If you have any questions about gifts or retirement assets, please contact us at 513 874-8900 or use our contact form.

This information is not legal advice. A donor should seek the guidance of a qualified estate and/or tax professional to understand the consequences of a gift.