QUALIFIED RETIREMENT PLAN ASSETS
|
| While qualified retirement plans such as IRAs enjoy favorable tax treatment prior to retirement, they are harshly taxed upon the death of the plan participant. A qualified plan may be subject to income, estate, and excess accumulation tax - taking more than 80% of the plan's value. For this reason, you may wish to leave other assets to your heirs and name the community foundation as beneficiary of your retirement plan. In that way, your heirs will avoid estate and income tax.
|
|
|