Trusts and Endowments

IRA's and Retirement Plans

For many people the gift of an IRA to a child or grandchild can be the costliest gift of all.  Retirement funds given to children or grandchildren can be hit by federal estate taxes, state death taxes, income tax, generation-skipping taxes, and penalties.
Another idea for dealing with an IRA or other retirement account is to create a charitable trust in your will that will be funded with your IRA.

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