Naming Buzzards Bay Coalition as a charity beneficiary of your retirement account or life insurance policy is an easy way to support the work of the Coalition without changing your will.
- Beneficiary designation gifts pass directly to Buzzards Bay Coalition without going through the probate process and go right to work to protect Buzzards Bay.
- You can name Buzzards Bay Coalition as a beneficiary of all or a specified percentage of your IRA, 401(k), 403(b) or other retirement plan.
- Because Buzzards Bay Coalition is tax-exempt, after your death it can withdraw the assets from the retirement account without having to pay income taxes on the withdrawal. Individuals who inherit retirement plan assets are usually required to pay income tax on them, so these are often considered among the best assets to leave to charity.
Buzzards Bay Coalition does not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction. Buzzards Bay Coalition is a Massachusetts nonprofit corporation with headquarters at 114 Front Street in New Bedford, MA. Employer identification number: 04-2971978.