IRA – Estate Beneficiary

IRA - Estate Beneficiary


A tax-deferred retirement savings plan like an IRA, 401(k), 403(b), SEP-IRA, SIMPLE IRA, or tax-sheltered annuity allows your money to grow tax-free. The tax is paid when the money is withdrawn during your retirement years and then any remaining funds after your lifetime.

Fortunately, this tax does not apply when transferring the funds to your surviving spouse at the end of your life. However, transfers to your children or anyone else become taxable. Today the tax rate can be as high as 37% plus state tax. This is a very expensive asset to give to family.

On the other hand, an IRA or other retirement account makes a great gift to Samaritan's Purse.

  • Add Samaritan's Purse as the contingent beneficiary, after your spouse, of your retirement account.
  • Upon the death of both you and your spouse, the remaining funds would be available to Samarian's Purse to fulfill your intention to help people and share the Gospel with those in need.
  • Since Samaritan's Purse is a charity, the funds are not taxed and the entire amount is put to use in ministry.
  • Other assets within your estate can be transferred to family without this heavy loss to taxes.

If you have further questions about leaving your IRA as part of your legacy to Samaritan's Purse, please contact our Legacy Planning Team at or Toll-free (833) 345-3422 for confidential personal assistance.

Did you know?
Someone age 70 ½ or older can now make a tax-free gift from their IRA directly to Samaritan's Purse? Learn more