Leaving your retirement plan or IRA (or a portion of it) to Transcendence is a tax-wise gift. Naming Transcendence as the recipient of your retirement plan after your lifetime (or at the death of the survivor of you and your spouse) avoids all estate and income taxes on the plan assets. Similar benefits can apply when designating Transcendence as the beneficiary of your life insurance policy.
To make this gift, you simply notify your plan or policy administrator of your wish to change the beneficiary. A “change of beneficiary” form may be required, and your spouse may need to sign consent to the change of designation. The tax ID to identify Transcendence Theater Company as a designated beneficiary is:
If your spouse and children are currently the beneficiaries of your retirement plan or life insurance policy, you can continue to keep them as beneficiaries, and include Transcendence as the beneficiary of a portion of your plan or policy. Upon your death, the plan administrator can “cash out” Transcendence’s share without affecting your family’s portion, so that Transcendence, and your heirs, benefit from your financial planning and your generosity.
For more information, please contact the Transcendence Development Office at [email protected] or telephone Brad Surosky, Executive Director at 877-424-1414 ext.4