Gifts of Retirement Plan Assets

A flexible and easy way to make a tax-free gift

Prayerfully consider making Forest Home a full or partial beneficiary of your IRA, 401(k), 403(b), pension or other tax-deferred retirement plan. You may be surprised to learn that the IRS could tax up to almost 40% of your retirement funds when passed on to your children.For estates subject to the estate tax, up to 60%-70% of your retirement plan could be taxed when passed on to your children.

Fortunately, since Forest Home is a charity, we are not taxed upon receiving IRA or other retirement plan assets.Therefore, if you have a vision to share the life-changing power of the Gospel at Forest Home, using retirement assets to make a gift to Forest Home, and leaving other appreciated assets, such as real estate and stocks, to your children often enables you to give more to your children and pay less in taxes.

ForestHome - Retirement Accounts

Illustration – $1,000,000 IRA Retirement Account

If you have $1,000,000 in an IRA and $1,000,000 in appreciated stock, your children could receive more from the gift of stock than from the IRA.

ForestHome-IRA_and_Stock (1)

How it Works

1. You name Forest Home as the beneficiary of a qualified retirement plan through a beneficiary designation form provided by your retirement plan custodian

2. After your lifetime, the designated balance of your qualified retirement plan passes on to Forest Home tax-free

Benefits

  • Your children would avoid paying income tax on any tax-deferred retirement assets
  • Your estate will benefit from an estate tax charitable deduction for the gift
  • You would be making a tax-free gift to Forest Home
  • You can continue to take withdrawals during your lifetime
  • You can change the beneficiary if your circumstances change
  • You experience the joy of making it possible for children, youth and families to experience the life-changing power of the Gospel at Forest Home.

A Beneficiary Gift Through Your Retirement Account May Be for You If:

  • You have an IRA, 401(k), 403(b), pension or other tax-deferred retirement plan
  • You like the convenience and flexibility to make a gift to Forest Home through a beneficiary designation
  • You want to balance your giving between providing for your family and supporting ministry
  • You want to minimize taxes and maximize the amount to family and Forest Home

We’re here to help

To discuss the best gift options for you, contact David Carlson, MBA, ChFC®, CLU®, CLPF, President of the Forest Home Foundation, at (909) 389-4430 or davidc@foresthomefoundation.org.