What is the advantage of making The Jesuit Retreat Center of Los Altos a beneficiary of my retirement plan?
A designation in your IRA or other retirement plan may be a cost-effective way to make a gift to The Jesuit Retreat Center of Los Altos. If you leave your retirement plan to your children, they will have to pay income tax on either a lump sum distribution or the income stream from the plan. The Jesuit Retreat Center of Los Altos does not pay this tax.
Here’s an example of what this can mean to your heirs:
A widower died a few years ago. He left his $300,000 house to charity and his $300,000 retirement plan to his relatives. He should have done just the opposite. The relatives had to pay income tax on the $300,000 in the retirement plan, an $80,000 cost to them. If they had received the home, and the charity had received the retirement plan payment, no one would have paid income tax.
For more information on the advantages of retirement gifts to The Jesuit Retreat Center of Los Altos, call Dr. Tom Powers, at 650-917-4049.
What should I do if I have already remembered The Jesuit Retreat Center of Los Altos in my estate plan?
We would be honored to enroll you in the El Retiro Legacy Society, so please let us know of your bequest by calling Dr. Tom Powers, at 650-917-4049 or email.
You may download the Legacy Enrollment Form and mail it to:
Dr. Tom Powers.
The Jesuit Retreat Center of Los Altos
300 Manresa Way
Los Altos, CA 984022-4659