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Life Insurance and Retirement Plan Assets

You can support the Taylor Foundation’s future by naming it as the partial or sole beneficiary of your life insurance policy, IRA, 401(K), 403(B) or other retirement plan assets.

Why life insurance?
By leaving the proceeds of an insurance policy to the Taylor Foundation, the proceeds of the insurance policy will not be subject to estate tax upon your death. Also, if you transfer ownership of the policy to the Taylor Foundation during your lifetime, you may benefit from an income tax charitable deduction and you may deduct the cost of future premium payments.

Why retirement assets?
Since retirement plan assets may be subject to both income and estate taxes if left to your heirs, estate planners frequently recommend that you designate all or a portion of these assets to a charitable organization like the Taylor Foundation. By leaving such assets to the Taylor Foundation, you can pass other assets to your heirs which may lessen the tax burden.

How can I designate the Paul Taylor Dance Foundation?
If the policy already exists, you should request a “change of beneficiary” form from your life insurance provider or retirement plan administrator. On this form, you can name the Paul Taylor Dance Foundation as sole or partial beneficiary, or you can name us as a contingent beneficiary in case you are predeceased by your immediate beneficiary. On your beneficiary form, you should list the Taylor Foundation as Paul Taylor Dance Foundation, Inc. Our address and tax identification number are:

551 Grand Street
New York,NY 10002
Tax ID # 13-2665475

How can I find out more?
Please contact Please contact Jenna Jacobs at jj@ptamd.org or 646-214-5815.

This is not legal advice. Any prospective donor should seek the advice of a qualified estate and/or tax professional to determine the consequences of his or her gift.

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