Tip of the Day!
The balance remaining in your retirement plan after your death is subject not only to federal estate tax, but also to income tax — and, if you name a grandchild as beneficiary, to the generation-skipping tax. The result can be that only 20 to 25 cents on the dollar may be left for your family.
Why give so much of your hard-earned retirement assets to the government when you can give them to The Hotchkiss School instead?
Direct the balance of your plan to The Hotchkiss School, and use other assets — not subject to all the taxes applied to retirement assets — to make gifts to your family.
Recent IRS regulations make it easier to make The Hotchkiss School a beneficiary.