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Planned Giving

Gifts from Your Retirement Plan: FAQs

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    Gifts from Your Retirement Plan: FAQs

    How do I arrange a gift from my retirement plan?Layer Closed

    Simply contact your IRA or retirement plan administrator and request a copy of the Change of Beneficiary Form. You can fill this in as you wish and include The Chapel for a portion or all of the remainder of your plan’s assets.

    What are the tax implications of a gift of retirement plan assets?Layer Closed

    When you designate Saint Thomas More Chapel at Yale as the beneficiary for all or part of your qualified retirement plan assets, those assets pass to us free of any tax. However, when these assets are passed to your heirs (other than your surviving spouse), they are subject to federal income tax and may also be subject to federal estate tax (depending upon the value of your estate) as well as various state income, inheritance and estate taxes. Because retirement plan assets are typically the most highly taxed assets when you pass on, they are the ideal choice for charitable gifts, designating other assets to your heirs.


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