I’m Between the Ages of 40 and 54

With growing children, aging parents and a busy schedule, estate and financial planning can be a challenge. Fortunately, we’re here to help you get your plans in order to protect your family and support your favorite causes. After setting up a will you’ll want to consider these options.

First Consideration: Start thinking about retirement

Have you considered including as a beneficiary of your retirement plan?

Because retirement plan assets are heavily taxed when left to loved ones, they make an excellent charitable gift to tax-exempt organizations like ours after you’re gone. It’s easy to do: just list us on the beneficiary designation form for a percentage (1-100) of your account.

Before you can think about making a gift of your retirement plan to us, however, you must know how to wisely build up your plan so you can live comfortably during retirement.

3 Questions to Ask Your Employer

One of the most popular forms of retirement plans is the 401(k), where employers can match a portion of your contribution. To get the most out of your company’s 401(k) plan, make sure you know the answers to these three questions:

  1. How long must I be employed before making contributions to a 401(k) and receiving the company match?
  2. What is the maximum salary match the company will contribute?
  3. Is there a vesting schedule that applies to the company match?

Second Consideration: Supporting family

Do you want to benefit from the tax savings that result from supporting , yet you don’t want to give up any assets that you’d like your family to receive someday? You can have it both ways with a charitable lead trust.

How It Works

You give assets to an irrevocable trust that pays an income for a number of years, which you choose. The longer the length of time, the better the gift tax savings for you. When the term is up, the remaining trust assets go to your family or other beneficiaries you select.

This is an excellent way to transfer property to family members down the line (typically children and grandchildren) at a minimal gift tax cost. This type of charitable lead trust (also called a nongrantor, or family lead trust) is especially appealing to supporters who are financially comfortable enough that they can forgo investment income on some assets.