Ways to Give › Plan a Legacy Gift › Retirement Plan

Retirement Plan

A gift of a retirement plan support’s Children's Hospital Central California and allows a donor to avoid “double taxation” from their individual retirement accounts (IRAs) 401(k)s, deferred compensation plans or pension plans. These retirement plans are included in an individual’s estate for federal estate tax purposes and are taxed as income to the recipients (at times at rates as high as 70%).

Donors may choose to designate their IRA funds to make charitable gifts at the time of their death, since the value of the IRA will provide a charitable deduction for federal estate tax purposes, and the contribution to the charitable beneficiary is exempt from income tax.

If you are considering using an IRA or similar retirement account to make a planned gift to Children's Hospital Central California, please consult your tax expert to assure that you are complying with all requirements.

NOTE: Although the information above is believed to be accurate, you should consult your attorney, accountant or gift planning advisor prior to taking any action.