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Under certain circumstances it may be advantageous to name the Archdiocese of Milwaukee or another archdiocesan beneficiary as the beneficiary of an Individual Retirement Account or your employer's pension plan. Doing this may benefit you and your heirs. You retain control of these funds during your lifetime. At your death, these funds, if left to the Archdiocese of Milwaukee or another archdiocesan beneficiary qualify for a charitable deduction and, thus, may save on estate taxes. By leaving other assets to your heirs and using retirement funds to give to the Archdiocese of Milwaukee or another archdiocesan beneficiary, you may also be protecting your heirs from paying income tax on the transfer of these retirement assets. |
