Leave a legacy of generosity
Leave a legacy of generosity
Making a simple change to your tax-deferred retirement plan could help you pass down more to the people – and causes – you care about most.
Generosity isn't just for the ultra-rich
You can leverage your tax-deferred retirement plan¹ to have a lasting impact on the people and charities you love. Just keep these three things in mind.
When you leave an IRA or other tax-deferred retirement plan to a loved one, they will have to pay income tax on the distributed amount at their tax rate.
You can leverage funds from your tax-deferred retirement plan to purchase life insurance and ensure your loved ones get an income tax-free benefit.
With insurance in place for your loved ones, you can leave the remainder of your tax-deferred retirement plan to a cause you care about, 100% tax-free.
When you leave an IRA or other tax-deferred retirement plan to a loved one, they will have to pay income tax on the distributed amount at their tax rate.
You can leverage funds from your tax-deferred retirement plan to purchase life insurance and ensure your loved ones get an income tax-free benefit.
With insurance in place for your loved ones, you can leave the remainder of your tax-deferred retirement plan to a cause you care about, 100% tax-free.
How your plan can expand your impact
What happens
Your assets continue to grow tax deferred, and you can take distributions for your retirement income.
Tax impact on your beneficiaries
They pay income taxes – at their tax rate – on the distributions taken from the retirement plan after you pass away.
Your assets continue to grow tax deferred, and you can take distributions for your retirement income.
Tax impact on your beneficiaries
They pay income taxes – at their tax rate – on the distributions taken from the retirement plan after you pass away.
What happens
Your assets continue to grow tax deferred, and you can take distributions to fund a life insurance policy to provide for your loved ones.
Tax impact on your beneficiaries
They receive income tax-free proceeds from the life insurance. But they must pay income tax – at their rate – on the distributions taken from the retirement plan after you pass away.
Your assets continue to grow tax deferred, and you can take distributions to fund a life insurance policy to provide for your loved ones.
Tax impact on your beneficiaries
They receive income tax-free proceeds from the life insurance. But they must pay income tax – at their rate – on the distributions taken from the retirement plan after you pass away.
What happens
Your assets continue to grow tax deferred, and you can take distributions to fund a life insurance policy to provide for your loved ones. Then you arrange for the remaining assets in the retirement plan to be transferred to a qualifying charity when you pass away.
Tax impact on your beneficiaries
Your loved ones pay no income taxes on the life insurance death benefit, and your charity pays no tax on the assets transferred from the retirement plan.
Your assets continue to grow tax deferred, and you can take distributions to fund a life insurance policy to provide for your loved ones. Then you arrange for the remaining assets in the retirement plan to be transferred to a qualifying charity when you pass away.
Tax impact on your beneficiaries
Your loved ones pay no income taxes on the life insurance death benefit, and your charity pays no tax on the assets transferred from the retirement plan.
Get started
When you work with a Thrivent financial advisor, you’ll be on the way to gaining more clarity about your financial strategy and how it can help you give generously to your loved ones, community and society. Find the approach that’s right for you—we can help.
Will and estate planning guide
If you own assets and personal property, you have an estate worth leaving to the people and causes you care about. This workbook-style guide contains answers to commonly asked questions, a glossary of terms, and worksheets to help you get started creating your will and estate plan, and begin the conversation with your Financial Advisor.
¹ Tax-deferred retirement plans include traditional IRAs, 401(k)s, 403(B)s, 457s, simplified employee pensions, defined benefit plans, defined contribution plans and others. Ask your Financial Advisor for details.
Thrivent and its financial advisors and professionals do not provide legal, accounting or tax advice. Consult your attorney or tax professional.
Guarantees based on the financial strength and claims paying ability of Thrivent.
Thrivent and its financial advisors and professionals do not provide legal, accounting or tax advice. Consult your attorney or tax professional.
Guarantees based on the financial strength and claims paying ability of Thrivent.
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