Gifts of Retirement Assets

A man once said that when his time came, he wanted to leave with “a zero balance in my IRA and a smile on my face.” He may of had a smile on his face, but, like many people, he left with a considerable balance in his IRA. As a generous and loving father, he had named his daughter as beneficiary. Between estate taxes and federal and state income taxes, more than 60% of the IRA’s value was taken by the IRS and the California Franchise Tax Board, leaving his daughter less than 40%. The same concept would apply to other tax-deferred retirement accounts such as a 401k, a 403b and other qualified plans. It does not have to be this way. You do not have to see more than half the value of your retirement account go to the government.

Advantages of a gift of a retirement account:

 

    • If you name the David Horowitz Freedom Center as the beneficiary of your IRA, 401k or other tax-deferred retirement account, the balance at your passing is transferred to us tax-free.
    • You still have full control of the account and can continue to make withdrawals during your lifetime.
    • You can change the beneficiary at any time if your circumstances change.
    • You will have the satisfaction of knowing that the full amount of the account remainder at your passing will go to support the mission of the David Horowitz Freedom Center and not mostly to the IRS or state taxing authority for estate and income taxes.

 

How to make the Freedom Center the beneficiary of your retirement account:

 

    • Request a beneficiary designation form from the custodian of your retirement account.
    • Designate the David Horowitz Freedom Center as the beneficiary of your account.
    • Return the completed beneficiary designation form to your retirement account custodian.

 

Let Us Thank You

 

If you plan on making a legacy gift to the Freedom Center, or if you already have, please let us know so that we can thank you.  You can click on the “Contact us” link below, complete the form there and hit the appropriate button to send it to us. You can email us at legacy@horowitzfreedomcenter.org. Or you can call Jay Ornellas, Director of Development, at (818) 849-3470 ext. 213. Thank you, in advance, for considering the David Horowitz Freedom Center for a legacy gift!

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