Retirement Plans are one of the best assets to own during your life but they are the worst asset to own at your death. At death, retirement plan assets are subject to income and estate taxes and their value can be reduced by as much as 75%. Naming Open Hand as beneficiary of funds in your retirement plan can be easy and will reduce the size of the taxable assets and avoid subjecting the estate or beneficiary to income taxation at your death.
Contact the financial institution handling your Individual Retirement Account (IRA), or other retirement plan or profit sharing account. A simple form from the manager of the fund is normally all that is required to name Open Hand as a beneficiary of your retirement plan.
Open Hand’s correct legal designation is:
Open Hand Atlanta, Inc., Federal Tax ID number 58-1816778
For more information on planned giving options, or to set up an appointment to explore how a charitable gift to Open Hand may fit into your overall estate planning, please contact Katie MacKenzie, Senior Donor Relations Manager, at 404-419-3302.