Retirement Assets

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Donating part or all of your unused retirement assets, such as your IRA, 401(k), 403(b), pension, or another tax-deferred plan, is an excellent way to make a gift to the MidwayUSA Foundation.

If you are like most people, you probably will not use all of your retirement assets during your lifetime. You can make a gift of your unused retirement assets to help further our efforts in youth shooting sports.

HOW TO MAKE A GIFT OF RETIREMENT ASSETS

To leave your retirement assets to the MidwayUSA Foundation, you will need to complete a beneficiary designation form provided by your retirement plan custodian. If you designate the MidwayUSA Foundation as beneficiary, we will benefit from the full value of your gift because your IRA assets will not be taxed at your death. Your estate will benefit from an estate tax charitable deduction for the gift.

BENEFITS OF GIFTing

  • Avoid potential estate tax on retirement assets
  • Your heirs will avoid income tax on any retirement assets funded on a pre-tax basis
  • Receive potential estate tax savings from an estate tax deduction

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 the MidwayUSA Foundation. As a charity, we are not taxed upon receiving an IRA or other retirement plan assets.

This site is informational in nature. It is not offering professional tax, legal, or accounting advice. For specific advice about the effect of any planning concept on your tax or financial situation or with your estate, please consult a qualified professional advisor.