Such a gift is usually made at the time of your death or, if you are married, at the death of the surviving spouse. Such a bequest may be made either outright to the College or to the College as trustee of a charitable remainder trust for the benefit of a family member. An outright gift avoids some or all of the income tax and estate tax that your heirs otherwise must pay on such assets. A gift to a charitable trust also avoids income tax, and allows the trust to invest the assets tax-free until they are distributed to the beneficiary.
Estate tax is reduced through claiming a charitable deduction.
One of the easiest ways to make a gift of retirement assets is to designate Pomona College as the beneficiary or partial beneficiary of the asset. Please contact us to discuss a gift of retirement assets. We also urge you to consult with your attorney.