In Your Estate Plans

More than any other asset in your estate, your retirement plan may be the best source of funding a tax-wise gift to the Metropolitan Opera. The Met's charitable tax status exempts it from the two separate taxes (estate and income) that your individual heirs could incur if you were to give retirement plan assets to them. Using unpaid benefits that remain in your retirement plans upon your death can be a unique and often overlooked opportunity to blend good estate planning with support for the Met's future.

The combined federal, state and local income and estate taxes on a large plan can amount to more than 50%, leaving relatively little for your heirs to enjoy. Thus, in planning gifts to your family and friends, you should consider giving them assets other than retirement benefits to minimize their tax burden and use your retirement account to make charitable gifts. There are also tax-wise ways to fund life income gifts with retirement accounts.

Your retirement plan administrator can give you the necessary forms for naming the Met as a beneficiary of your plan. The rules governing retirement accounts are very complicated, so we recommend that you first consult with our Planned Giving staff and your own advisors.

For more information or confidential help in planning a gift of your retirement plan account to support the future of the Metropolitan Opera, please complete this form or contact our Planned Giving office directly. Our experienced tax and estate planning staff can provide you with individual assistance and gift planning information, without obligation.

Office of Planned Giving
The Metropolitan Opera
30 Lincoln Center
New York, New York 10023
Telephone 212-870-7388
e-mail: EncoreSociety@mail.metopera.org