An Opportunity for Smart Planning

Your retirement plan is one of your most valuable assets. The amount you have accumulated over your lifetime is probably quite significant. Unfortunately, if your IRA, 401(k), or 403(b) plan is left to your family or friends upon your death, up to 65% could be lost to income and estate taxes. While reviewing your estate plan with your financial advisor, you may consider making a charitable gift of your retirement plan assets to University Libraries at the University of Cincinnati.

A gift of appreciated stock and real estate to family and friends through your will results in more tax savings for your heirs by saving them a portion of income tax due. However, your IRA or other retirement assets is entirely taxable to your heirs. Leaving these assets to UC entitles the University to retain the entire value without being subject to taxes. This way, more of your money goes to work for the people and causes that are most important to you, including University Libraries.

It is easy to designate a portion of your retirement assets to University Libraries. For example, a UC professor recently made a gift of a portion of his retirement plan to benefit his area of study and University Libraries. What a wonderful way to make an impact on the lives of future students.

For more information on how to ensure UC will benefit from one of your most valuable assets, please contact Peggy Wolf, Development Officer for University Libraries, at (513) 556-0055, the UC Office of Gift Planning at (888) 556-8889, or by e-mail to <giftplanning@uc.edu>. We are happy to work with you and your financial advisor to design a plan that best fits your situation.

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