Gifts of Retirement Assets
Donating part or all of your unused retirement assets, such as your IRA, 401(k), 403(b), pension or other tax-deferred plan, is an excellent way to make a gift to Alfred University.
Below is information about gifting retirement assets upon death. Another great option, if you are age 70 ½ or older, is making direct gifts from your IRA now. Learn more
Gift of Retirement Assets
Retirement Assets
AU
Benefits of making Alfred University a direct beneficiary of your retirement assets
- Avoid potential estate tax on retirement assets
- Your heirs would avoid income tax on any retirement assets funded on a pre-tax basis
- Receive potential estate tax savings from an estate tax deduction
- Make a significant impact at Alfred University
How to make a gift of retirement assets
To leave your retirement assets to Alfred University, you simply complete a beneficiary designation form provided by your retirement plan administrator. If you designate Alfred University as beneficiary, we will benefit from the full value of your gift because your retirement plan assets will not be taxed at your death. Your estate will benefit from an estate tax charitable deduction for the gift.
More on gifts of retirement assets
Did you know that 60%-70% of your retirement assets may be taxed if you leave them to your heirs at your death? Another option is to leave your heirs assets that receive a step up in basis, such as real estate and stock, and give the retirement assets to Alfred University. As a charity, we are not taxed upon receiving an IRA or other retirement plan assets.
Contact us
If you have any questions about gifts of retirement assets, please contact us.
And please let us know if you have already included Alfred University as a beneficiary of your retirement assets. We would like to thank you and recognize you for your gift.
