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A gift of your retirement assets, such as a gift from your IRA, 401k, 403b, pension or other tax deferred plan, is an excellent way to make a gift to Wake Forest University.
If you are like most people, you probably will not use all of your retirement assets during your lifetime. Make a gift and help further our mission.
Did you know that 60%-65% of your retirement assets may be taxed if you leave them to your beneficiaries at your death? Another option is to leave your beneficiaries assets that receive a step up in basis (such as real estate and stock) and give the retirement assets to Wake Forest University. As a charity, we are not taxed upon receiving an IRA or other retirement plan assets.
Your retirement assets may be transferred to Wake Forest by completing a beneficiary designation form provided by your plan custodian. If you designate Wake Forest 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. If you will be between the ages of 50 and 69 by June 30th, 2020, a portion of the current value of your retirement asset will count in the Wake Will Lead Capital Campaign.If you will be 70 or older by June 30th, 2020, 100% of the current value of your retirement asset will count in the Wake Will Lead Capital Campaign.
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