Retirement Plan Assets and Life Insurance Policies

Retirement account assets such as IRAs, 401(k)s, Keoghs, and 403(b)s are another attractive way to support the CEC. Left to your estate or to an individual who is not your spouse, these assets are subject to significant estate and income taxes. By designating the CEC as the recipient of any benefits remaining in your retirement plan, the gift will escape both estate and income taxes, while also supporting the CEC. You may designate the CEC as a beneficiary of your life insurance policy or donate a policy to the CEC. You may either name the CEC as the primary beneficiary or as a contingent beneficiary of your retirement plan or life insurance policy where the CEC would receive the proceeds should anything happen to a loved one named as a primary beneficiary. 

 

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