Retirement Accounts
Individual Retirement Plans (IRAs) and company-sponsored pension and profit-sharing plans may be used to make charitable gifts while limiting tax liabilities for heirs. Amounts remaining in qualified retirement plans at death may be subject to more than estate taxes, so a gift of the retirement plan balance may produce the greatest tax savings for your heirs. In addition, if you are over age 59 and have excess retirement funds, it may be prudent to give a portion during your lifetime to avoid penalty.
Find out more about the Pension Protection Act of 2006