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Retirement Benefits: Who Gets the Rest?

You benefit from your retirement plans as long as you live. After that, who gets the remainder?

Of course, annuity payments generally last only during your lifetime (and possibly your spouse's, if you're married). But the assets of other plans, such as an IRA, Keogh, or 401(k) account, may not be fully distributed. The remainder could be substantial.

The choice of an ultimate beneficiary is yours. Naturally, your decision will depend on your family circumstances. If you're married, you probably want your spouse to benefit. After that, you may want to help your children.

A Charitable Gift Option
Once you've provided for your family, you have another option: a gift to Sisters Hospital Foundation. There's no better testimonial to your heartfelt concern for our ongoing efforts to serve others. To make sure you don't shortchange your family, consider these possible gift options:

Designate a specific amount to be paid to us, before the division of the remainder among family beneficiaries.
Make us the beneficiary of part or all of the balance remaining after your spouse's lifetime.
If you have no relatives you want to benefit, name Sisters Hospital Foundation as your primary beneficiary.

To implement your wishes, simply advise the plan administrator of your decision and sign whatever forms are required.

Click the icon to request more information about retirement plan assets.

Please call Julie Snyder at 716-862-1992, or e-mail us at jsnyder@chsbuffalo.org, for more information.

The information in this Web site is not intended as legal advice. For legal advice, please consult an attorney. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income tax include federal taxes only. Individual state taxes and/or state law may impact your results.