If you have assets in retirement accounts such as an IRA, 401(k), 403(b), Keogh, and other corporate or partnership pension and profit sharing plans, there may be significant tax advantages in bequeathing all or a portion of these accounts to the SC&RF.

If retirement accounts are designated for heirs such as children and grandchildren, over one-half of the total value of the account could be lost to federal income and estate taxes (depending on the applicable income tax and estate tax rates), not including the impact of state taxes.

Because of the heavy tax burden when bequeathing tax-deferred retirement accounts to family members other than a spouse, it is usually tax advantageous to designate these types of accounts to the Foundation and designate other assets such as appreciated securities or real estate to family members or other heirs.