Gifts of Retirement Assets (including IRA, 401k and other retirement plan assets)

Retirement plan assets, when given to a family member, will be taxed heavily when you die. When drafting your estate plans, and included in them is your desire to make a gift to charity, you may want to consider using your retirement assets to make the charitable gift, and use other assets to leave to family members. In doing so, you will avoid both income and estate taxes and thus will enable you to leave more to your heirs. Since the NCMC Foundation is a non-profit entity, it is not required to pay income tax on the distribution and the gift will not be subject to estate tax, as it would be if the distribution were to a family member.

A real benefit to you is that you can still continue to take distributions during your lifetime and the residual (or a percentage of the residual depending upon your designation) of your plan when you die passes tax free to the NCMC Foundation. Be assured that your hard-earned retirement savings will be put to good use long after you are gone.

It is easy to make a gift of your retirement account assets. Just notify your plan administrator of your wish to change the beneficiary to the North Colorado Medical Center Foundation, Inc.: Tax ID # 84- 0718355. It is recommended that you first get the advice of your plan administrator and an attorney.

For more information about Gifts of Retirement Assets, please contact:
Donna Benson
Director of Planned Giving
(970) 350-6773