Making a gift of retirement plan assets is a great way to preserve redwood forests for future generations.

Thank you for your interest in making a gift of retirement plan assets to Save-the-Redwoods
League. Since there are a variety of retirement plans with significant restrictions on how and when transfers and distributions may be made, we highly recommend that members and supporters review their situation with a retirement plan administrator, tax professional or financial advisor.

Most retirement plans are made up of assets that are not taxed so long as the assets remain within the particular retirement plan. While there are a variety of different types of retirement plans, typically distributions from a plan become taxable at the time when they are paid out to the beneficiary or beneficiaries.

With the exception of one's surviving spouse, the heirs who receive distributions from a retirement plan could find themselves subject to as many as four different types of taxation; income tax, estate tax, generation skipping transfer tax and possibly excise taxes if the plan has substantial accumulation or makes substantial distributions.

The net result is that the value of the asset can be significantly reduced. However, many retirement plans permit a charity to be named as a beneficiary. Upon the death of the retirement plan participant, the interest passes tax-free to the charity.

Naming Save-the-Redwoods League as a retirement plan beneficiary is an excellent way to preserve and protect the redwoods for future generations. Please check with your plan administrator to see if your retirement plan allows this provision.
Your plan administrator may require the following information:

Save-the-Redwoods League is California nonprofit corporation, currently located at 114 Sansome Street, Room 1200, San Francisco, CA 94104-3823. Save-the-Redwoods League was incorporated in the State of California on October 21, 1920 and is classified as tax-exempt under Internal Revenue Code 501(c) 3. The tax I.D. number is 94-0843915.

For more information, contact our office.