A bequest can be a beneficial way to support Gilda’s Club Westchester and reduce estate taxes. A bequest can be in the form of a specific gift of cash or property. It may be structured to provide support to specific Gilda’s Club Westchester programs, or can be given without restriction to best meet future needs.
Retirement assets are one of the most beneficial gifts you can give to Gilda’s Club Westchester. These funds grow tax-free, until the time of withdrawal. With the innovative use of these plan assets, you are able to contribute generously to Gilda’s Club Westchester as well as provide for your loved ones. Many taxes on these plans can be avoided or reduced through a carefully planned charitable gift.
Naming the individuals and charities that will receive your assets once you are gone can be a simple process. Most assets can pass to your intended beneficiaries by the terms of your will. Other assets, such as retirement plans, life insurance and insurance annuities, however, are not controlled by the terms of your will. Instead, these assets require separate beneficiary forms.
The beneficiaries of these assets can be easily modified at any time to meet your changing needs:
- IRAs and retirement plans
- Life insurance policies
- Insurance annuities
If you have questions about naming Gilda’s Club Westchester as beneficiary of any of these assets, please contact Corinne Frankenfield at 914-644-8844. Please remember that the tax treatment of any donation must be confirmed by the donor’s tax advisor.
We are happy to help, without obligation and in confidence.