Avoid a Tax Trap
Did you know that funds remaining in your IRA or certain other retirement acounts can be subject to estate tax rates of 47% - or even more?
Did you also know that, unlike other assets, after payment of estate taxes your loved ones may also be liable for income tax on those amounts? The combined impact of estate and income taxes can absorb up to 65% of your remaining retirement assets.
That is why many choose to use their retirement fund to make charitable gifts through their estates, and to leave other, less heavily taxed assets to heirs.
Adapted
from Estate Planning Newsletter,
Texas A&M Corpus Christi Foundation
Would you like to leave a living legacy?
-
one that will help assure that future generations
are able to enjoy and learn about wild butterflies -
If
so, please consider including
NABA International Butterfly Park
in your will or estate plan.
This information on this page is not intended as legal
or financial advice.
Please be sure to contact your attorney or estate planner to
assist you with these important decisions.
For more information about plans for the Park, please contact
Jeffrey Glassberg at (973) 285 0907
or
Sue Sill at (956) 583-9009
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If you have not updated your will or eatate plan recently, you may need to confirm that it reflects the current needs of your loved ones, and your current interests. Tax laws have changed, and families change over time. Your plan should be reviewed periodically to assure that it meets today's realities. We suggest you consult an attorney or estate planner to review your plans, and to help you make sure your loved ones are properly remembered. If you choose to include charitable giving in your plan, we hope you will consider a gift that will help build an endowment to secure the future of NABA International Butterfly Park.
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