Legacy Fund: Retirement Plans

Naming a Legacy Fund at Napa Valley Community Foundation as a beneficiary of your retirement plan is a smart way to make a significant gift to our community that may not be possible during your lifetime.

You can designate NVCF as a beneficiary of your retirement plan, whether it is a 401(k), 403(b), IRA, or other qualified retirement program. These assets could be taxed at high rates upon your death, and estate taxes may be due in addition to the taxes your heirs may pay on the income in respect of the decedent (IRD). For these reasons, many advisors recommend retirement plan assets as the first to be designated for charitable purposes.

If you are concerned about estate taxes, designating NVCF as a charitable beneficiary on your retirement plan is a good choice because the benefit payment is generally excluded from your estate for tax purposes. And, because you may change the beneficiary designation at any time, your decision is revocable.

Looking for something you can’t find? Email or call our staff to talk about legacy giving at NVCF.

 
 
 

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