GIFTS OF RETIREMENT ASSETS

A unique and often overlooked way to make a charitable gift through your estate plan is to name NYU Langone Medical Center a beneficiary of all or a portion of a retirement plan, such as an IRA, 401(k), 403(b), a Keogh, or other qualified retirement savings plans. Under current tax law, retirement assets that are bequeathed to heirs or individuals other than your spouse are often severely reduced by estate and income taxes. NYU Langone Medical Center’s charitable status avoids the heavy taxes your heirs could incur if they receive your retirement assets.

For the donor contemplating making a major gift, consider making the NYU Langone Medical Center Institute a beneficiary of your retirement plan by:

• naming the NYU Langone Medical Center as the plan’s primary beneficiary by completing a beneficiary designation form provided by the holder of the retirement account.

• establishing a testamentary charitable remainder trust in your will that will be funded specifically with your retirement plan assets, and naming the NYU Langone Medical Center as the remainder beneficiary. This vehicle could help you provide income to someone you designate, while saving taxes and accomplishing your charitable giving goals.

We recommend that you consult with your legal and financial advisors. To learn more about making a gift of retirement assets, please contact the Office of Gift Planning by phone at 212-404-3653 or 800-422-4483, or by e-mail to: plannedgiving@med.nyu.edu.