If you have accumulated substantial amounts in your retirement account and you are in the highest brackets for paying income and estate taxes, those taxes can exceed 70% of the amount in the plan. These are not ideal assets to bequeath to your heirs. Naming one or more charities as the after-death beneficiaries of your IRA pension fund (by designating specific amounts or percentages) can save these taxes while supporting the causes closest to your heart.

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Naming one or more charities as the beneficiaries of your IRA pension fund
can save estate taxes while supporting the causes closest to your heart.