Did you know that there is an easy way to include Safe Harbor in your estate plans that doesn’t include changing your will?


We’re all regularly reminded of the importance of saving for retirement. Most companies offer 401k or like accounts that make it easy for one to save. As you approach retirement you may find that your savings are more than adequate.


Donating all or part of a retirement plan to Safe Harbor may be an attractive option.  Since we are a charitable institution, we are exempt from paying the taxes that might otherwise be owed by your heirs and you will also receive an estate tax charitable deduction.  This tax-wise move makes other assets you own available for loved ones.


Making Safe Harbor the beneficiary of a retirement plan is so easy to do. Simply request a ‘Change of Beneficiary’ form from your advisor or the custodian of your account. This might be available on-line, if not your plan administrator can send you the form. Check your financial statement for the phone number and website of your plan administrator.   Remember, you can name Safe Harbor as a partial beneficiary, the beneficiary of the entire amount or as a contingent beneficiary.


Want to learn more? Contact Cathy Easter at 804-249-9470 x 11 or cathy@safeharborshelter.com.


Don’t forget to incorporate the following legal description on the beneficiary designation: Safe Harbor, Tax ID 54-1950038, with its principal office in Henrico, VA.


The above is for informational purposes only.  Please consult with an attorney or another advisor to obtain tax advice.