Qualified Retirement Plan Assets

One of the simplest and most tax-efficient ways to leave a legacy is to name the Community Foundation of Howard County as a beneficiary of all or a percentage of your qualified retirement plan(s). When you leave this asset directly to your heirs, it is a taxable event, whereas if you designate CFHoCo as your beneficiary, the Foundation, as a charitable organization, would receive 100 percent of the asset.

If you choose to make a charitable gift of a retirement plan account, please be sure that the beneficiary forms on file with the plan administrator specify the Community Foundation of Howard County as the beneficiary and that you notify CFHoCo about your plans.