Gifts from your Retirement Plan

How It Works

  • Name the JFS Foundation as a beneficiary of your IRA, 401(k), or other qualified retirement plan.

  • Pass the balance of your retirement assets to the JFS Foundation by contacting your plan administrator.

  • We encourage you to tell us about your gift. Your plan administrator is not obligated to notify us.

Benefits

  • Continue to take regular lifetime withdrawals.

  • Maintain flexibility to change beneficiaries if your family's needs change during your lifetime.

  • Your heirs avoid the potential double taxation on the assets left in your retirement account.

If the largest asset in your estate is your retirement plan, such as a 401(k), IRA, the IRS will impose income tax on the remaining balance in the account if you designate it to any other beneficiary, including your spouse. This tax is in addition to the estate tax that may be imposed on the account. 

A gift from your retirement account is for you if:

  • You hold a 401(k), IRA, or other retirement plan.

  • You prefer to make a gift to us through your estate plan.

  • You want to balance your giving between providing for your family and for us.

  • You want to ensure the most efficient distribution of the assets in your estate.

 

Name the JFS Foundation as the beneficiary of your retirement plan, then use other assets not subject to income tax to make gifts to your heirs. The JFS Foundation won't pay income tax on our distribution and your heirs will receive their share of your estate without the burden of extra taxes.

Questions? Already included the JFS Foundation in your retirement plan?

Please let us know if you have already included the JFS Foundation in your retirement plan or if you are considering doing so. 
We'd love to hear from you!

CONTACT US

 

The JFS Foundation

5402 Arapaho Road

Dallas, TX 75248

972.437.9950