Retirement Plan Beneficiary
You can include the Historical Society as a beneficiary on your retirement account. Just fill out a "change of beneficiary form" naming the Monroe County Historical Society to receive a generous percentage of the remainder after your surviving spouse dies.
Your qualified retirement fund (401k, IRA, SEP or Keogh) may be the most tax-burdened asset you own. If you and your surviving spouse die before you have taken all of your distributions, the remaining balance can be subject to multiple taxes that could claim up to 75% of its value. You can leave 100% of the remainder, tax free, to the Historical Society, reduce your estate, and leave other assets to your heirs.
