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Giving Through Retirement Plans

Gifts through retirement plans imageLeaving UMass Dartmouth as the beneficiary of your retirement plan is a great way to make a gift. Retirement plans that remain in your estate are often subject to both estate and income taxes when left to your heirs. In large estates the effective tax rate on a retirement plan may exceed 55 percent, leaving little for your heirs.

Designating UMass Dartmouth as the beneficiary of your IRA, Keogh, tax-sheltered annuity, or qualified pension or profit-sharing allows the assets to pass directly to UMass Dartmouth at your death without subjecting it to any income or estate taxes.

If you wish to make this type of gift, ask your plan administrator for a change of beneficiary form and use the following language:

University of Massachusetts Dartmouth Foundation for the benefit of UMass Dartmouth (you may also include a specific purpose such as a scholarship, or specific research program or area of care).