Retirement Assets

Retirement account assets—especially in IRAs or 401(k) or 403(b) plans—if left to anyone other than a spouse, may be subject to substantial tax assessments and penalties. In many instances, these taxes can deplete the assets by more than 60% of their total value.

Rather than see retirement assets unnecessarily eroded by income and estate taxes, individuals can direct them toward a significant charitable gift to the Garden. The Garden can be designated as a primary or contingent beneficiary of a specified amount or percentage of remaining assets. Or, assets can be transferred to a testamentary remainder trust, which will provide income to your heirs and designate the Botanical Garden as residual beneficiary.

A gift of retirement benefits is one of the easiest ways to provide an important and enduring gift to the Garden. Simply contact your retirement plan administrator and request a change of beneficiary form. Be sure to include the Garden’s address, 2900 Southern Boulevard, Bronx, New York 10458-5126. Within days, your request will go into effect.

For more information, please contact the Office of Planned Giving at 718.817.8545 or via e-mail.. There is no obligation, and all information will remain confidential.

For your convenience, the Gift Illustrator Tool computes anonymously your own life-income and tax benefit reports. The information will neither be saved nor used by the Garden and is for discussion purposes only with family and legal or financial counsel.