Retirement plan gift
Without the support of our generous circle of givers, PacRep could not withstand the "whips and scorns of time."
One of the easiest planned gifts you can make, and potentially the least costly to your heirs: name PacRep as the beneficiary of your IRA, 401(k), 403(b), Keogh or other retirement plan.
You continue to control these investments and take the required minimum distributions, plus any others you need.
When to consider one
Retirement assets left to heirs can be subject to both income and estate taxes, which together can take 70% or more of the asset. Given to PacRep, the asset avoids both.
The advantages
- Easy to set up and change: ask your plan administrator for a change-of-beneficiary form.
- It does not reduce your current income.
- Substantial future support for a cause that is important to you.
- Possibly reduced estate and future income taxes.
- Revocable: you can change your mind at any time.
- Membership in the Encore Circle, the community of PacRep supporters who have made similar provisions in their estates.
Combining a retirement plan with a trust
You can also leave your retirement plan to a charitable remainder trust created through your will. The trust pays no tax on the transfer, provides life income to a beneficiary such as your child, and eventually makes a gift to Pacific Repertory Theatre; your estate receives an estate tax charitable deduction.
A pooled income fund, a type of charitable remainder trust that works somewhat like a mutual fund, can be established with as little as $5,000. (Pooled income fund gifts are currently unavailable in Arkansas, Connecticut, Florida, Mississippi, Nebraska and Tennessee.)
We make no claims regarding the accuracy of this information or the tax consequences of your use of it. Please consult your own tax, legal or financial planning advisor.