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Free To Breathe - A Partnership For Lung Cancer Survival

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Balance Your Giving While Providing for Your Family

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BalanceIf the largest asset in your estate is your retirement plan, such as a 401(k), IRA, or Keogh, you may be surprised to learn that the IRS will impose income tax on the remaining balance in the account if you designate it to a beneficiary other than your spouse. This tax is in addition to the estate tax that may be imposed on the account. For estates fully subject to the estate tax, the result can be that up to 60 percent of the value of your retirement plan will be consumed in taxes before your child, relative or friend receives it.

There is a sensible charitable alternative: name Free to Breathe as the beneficiary of your retirement plan, then use other assets not subject to income tax to make gifts to your heirs. Free to Breathe, as a qualified 501 (c)(3), won't pay income tax on our distribution and your heirs will receive their share of your estate without the burden of extra taxes.

  • No estate tax is due on the retirement plan assets that pass to Free to Breathe.
  • The gift will qualify your estate for a charitable deduction.
  • The funds may be used to establish a life income trust for a person of your choice.
  • You retain access to all your retirement plan assets during your lifetime.
  • Your donation to Free to Breathe will reflect your charitable interests.

For more information, please contact Sherie Reinders, Chief Operating Officer at 608.833.7905 or email.

©2017 Free To Breathe | Lung Cancer Research Foundation | Federal Tax ID #14-1935776 | LCRF is a 501(c)(3) public charity.