Similarly, if you have excess life insurance, you may enjoy tax benefits by designating HospiceCare of Boulder and Broomfield Counties as the beneficiary of (primary or secondary) an existing life insurance policy.
At the time of death, qualified retirement plan assets may be subjected to both estate and deferred income tax, which combined can use up most of the funds. You can designate HospiceCare of Boulder and Broomfield Counties as a tax-free beneficiary of the remainder of your IRA, Keogh, tax-sheltered annuity, qualified pension or profit-sharing plan. A charitable gift of insurance proceeds or the remainder of retirement plan assets is normally deductible from the donor’s estate.
To learn more, or for questions, please call Kathy Coyne at 303.604.5235, or email kathycoyne@hospicecareonline.org.
