Gifts from Retirement Plans

A simple planned gift, and one of the most tax efficient, is made from a tax-deferred retirement plan: 401(k) plans, 403 (b) plans and individual retirement accounts (IRAs).

Left as part of an estate, tax-deferred assets will be subject to income tax and possibly other forms of taxation. Where qualified, however, naming UCC Boxborough as a beneficiary of a retirement plan allows the gift to pass directly to the Church free of any taxes.

This is also one of the easiest gifts to put in place. In most instances, simply go to the website of the trustee or custodian of the plan and change the beneficiary designation. Like a bequest from a will or trust, the gift may be a specific dollar amount or a percentage of the plan assets.

To designate UCC Boxborough as a retirement plan beneficiary, UCCB’s tax ID number is 042-835-334. Please consider sending us a copy of your beneficiary form for our records so that we can celebrate your gift.