Retirement Plans

If you plan to make a legacy gift to the Care Resource, you may want to consider naming the club as the beneficiary of your 401(k), pension, or other retirement plan, and leaving other assets to your family. Retirement plan assets (IRAs, 401(k), 403(b), etc.) offer another easy method for planned giving. The funds can be transferred at death to Care Resource by naming Care Resource as either the primary or contingent beneficiary of the account.

As these funds are not distributed until your passing, they are not subject to estate tax or income tax, thus the entire balance passes to Care Resource.  When passed on to heirs, retirement plans can incur as much as 70 percent in taxes, because this asset faces double taxation. Naming Care Resource as the primary beneficiary avoids all income and estate taxes on the retirement plan.  Of course, you can also name the Care Resource for a percentage portion of the assets, or as a contingent beneficiary, with the gift to be effective only after the death of a spouse or other family member.  To make a gift of your retirement plan, simply contact your plan manager, ask for a change of beneficiary form.

If you or your advisers have any questions about this information, please contact Care Resource at 305-576-1234 Ext 384, or by email at