Making a gift to UMF through your IRA, 401(k), or other qualified plan is simple and advantageous.
- You avoid the potential double taxation your retirement savings would face if you designated these savings to your heirs.
- You can continue to take regular lifetime withdrawals.
- You can maintain flexibility to change beneficiaries if your family’s needs change during your lifetime.
To make this gift:
- You must notify your plan’s administrator to complete a “change of beneficiary” form.
- Name UMF as a beneficiary of your IRA, 401(k), or other qualified plan.
- Designate UMF to receive all or a portion of the balance of your plan through your plan administrator.
- Pass the balance in your plan to UMF after your death.