Retirement
Plan Assets
> Avoid double taxation
Benefits
Retirement accounts such as IRAs and 401(k) and 403(b) plans can
be subject to double taxation - ordinary income and estate tax -
meaning that more than 60 percent can go to taxes if left to your
heirs.
Retirement plan assets left to EFSC will transfer tax-free.
In planning your estate, consider leaving EFSC your retirement plan
assets, and leave more favorable taxed assets to your family.
Did You Know?
Most retirement accounts allow the owner to select beneficiaries to
receive the plan assets remaining at death. To designate EFSC as a
beneficiary, contact the account administrator.
Lifetime withdrawals, even for charitable gifts, are typically treated
as taxable income. Proposed changes to federal tax law may allow
for future tax-free distributions made directly to EFSC. Please check
EFSC’s Foundation Office for up-to-date information.
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