Donors can name InSIST the successor beneficiary of all or a portion of their IRA, 401(k), or other retirement accounts. The designation is revocable and does not generate a charitable income tax deduction, but:
Distributions from retirement accounts to surviving family members can be subject to both income and estate tax. Directing the balance of a retirement plan to InSIST removes the most-taxed asset from the donor’s estate, freeing up other, more favorably taxed assets to give to family and heirs.
Donors have the reassurance that they can continue to take withdrawals from their plan during lifetime, and that they can change the designation of the charitable beneficiary if their or their family’s circumstances change.