You may find that gifts of retirement assets can maximize the value of your gift while minimizing your taxable income. When you bequeath retirement assets to your heirs, you are leaving them taxable assets. After your heirs pay the taxes due on these assets, their inheritance will be considerably less than the original amount. However, if you bequeath retirement plan assets to the Women's Fund of Western Massachusetts, we will not have to pay income taxes on the assets. This will allow you to make a larger gift and possibly save other nontaxable assets for your heirs.

You may also want to consider setting up a charitable trust with retirement assets, which is described in Trusts.

Note: This information is not intended as specific legal advice. Consult your attorney when considering any legal matter. State laws which govern wills and contracts vary and are subject to change.