TAX NEWS - CORNERSTONE SPRING 2018 | Division of Institutional Advancement | Kent State University

TAX NEWS - CORNERSTONE SPRING 2018

Retirement Plan Assets

Fifty to 60 percent of retirement assets may be taxed if they are left to your heirs upon your death. If the university is your beneficiary, your estate benefits from an estate tax charitable deduction, and we benefit from the full value of your gift.     

 

A Great Idea: Designate us in your IRA, but see the impact of your gift today
With the permanent Charitable IRA Rollover, you can make a gift to your future fund at Kent State and satisfy your Required Minimum Distribution (RMD) at the same time. At age 70½,  taxpayers can rollover up to $100,000 annually from an IRA to a qualified charity like the Kent State University Foundation. You’ll enjoy a tax savings as the RMD rolls over to Kent State without ever being counted as income.

 

Other Great Ways to Give

There are many ways to remember Kent State through your estate plans, including a planned gift that lets you enjoy tax and current income benefits, and other ways to turn assets into advantages and legacies. There are several benefits for you:

 

  • Simple to accomplish by designating us in your insurance, retirement, financial, brokerage or bank account
  • A cost-free way to update your will or trust
  • Funds come to the university more quickly since they do not go through probate

To make the designation, just fill out a new beneficiary form provided by the firm that manages your assets. Call the Center for Gift and Estate Planning at 330-672-1000 if you have questions.