Your retirement fund can be taxed up to 80% if passed on to heirs, yet it’s tax-free to charity!
How it works: United Way of Okaloosa and Walton Counties receives all or a portion of the remainder of your retirement plan to use for program funding or a purpose you designate. You leave less-taxed assets to your family.
How to make the gift: Name UWOWC as the recipient of all or a portion of the remainder of your IRA, 401(k) or other qualified plan. The balance in your plan will be passed to UWOWC after your death.
Benefits to you:
- Avoid the double-taxation your retirement savings would face if you designate them to your heirs
- Continue to take regular lifetime withdrawals
- You have the flexibility to change beneficiaries if your family’s needs change during your lifetime
Other Planned Giving Options:
PLEASE NOTE: Planned gifts like those mentioned here are legal documents. Please consult with a qualified third party (for example, a lawyer or CPA) about planning and implementing these gifts.
Please contact us with any questions.