PLANNED
GIVING
Making a planned gift is a wonderful way to show your support and appreciation for George Mason University and its mission while accommodating your own personal, financial, estate-planning, and philanthropic goals.
Gifts from Retirement Plans at Death
Retirement-plan benefits often make an excellent choice for funding a testamentary charitable gift to George Mason University Foundation. Not only will such a gift escape federal income tax, but it will also avoid any potential federal estate tax. This combination of income taxes and estate taxes could result in a tax hit of more than 62% of the retirement-plan benefits.
If, for example, you have designated your children to be the beneficiaries of $100,000 of your retirement-plan benefits, and your estate is subject to federal estate taxes, your children could lose $40,000 to federal estate taxes and as much as an additional $22,200 to federal income taxes for a total reduction in benefits of $62,200. If, however, you designate George Mason University Foundation as the beneficiary of that $100,000, the full amount will pass to us with no reduction in benefits.
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Aquanetta J. Betts, JD |
George Mason University Foundation, Inc. |
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