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Individual Retirement Accounts & Other Retirement Plans

Donors may be able to use assets held in an individual retirement account (IRA) or similar account to make a gift to the Erie Playhouse at the time of their death. While very attractive from a tax standpoint during a donor’s lifetime, these retirement programs can be heavily taxed assets at death.

Great caution should be exercised when making gifting decisions relative to IRAs and other types of pensions due to how severely these assets may be taxed at death. Always consult legal and tax councel prior to making gifting decisions associated with IRAs and other qualified plans.