Qualified Retirement Plans

People often reach retirement age with significant wealth accumulation in retirement plan accounts. Unfortunately, assets in these types of plans are included in the owner's taxable estate at death and can be subject to as much as 70 percent in combined estate and income taxes.

Rather than see such a large percentage of your remaining retirement assets eaten up by taxes, you might consider directing a portion or all of your retirement assets to be used to make charitable gifts. While the value of these accounts is still included in your taxable estate, your estate will receive a full charitable deduction for all gifts designated to charity. A more satisfying strategy may be to name UNC Charlotte as the beneficiary of your retirement account and leave other assets to heirs. The university will owe no taxes on the account and will be afforded the full amount of the gift.

May we explore with you the various options available with qualified retirement plans? Contact Director of Gift Planning Carl E. Johnson, Ph.D., CFP®, at (704) 687-7217 or e-mail.