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Financial Advisors' Information

Clients may have very significant retirement account balances and may not be aware of the heavy taxation the assets are likely to face after they pass away from both income and estate taxes when family members are the recipients. Your guidance about designating some portion of the retirement assets for charitable purposes can avoid those taxes. For your client to support any component of WVU, making the WVU Foundation (FEIN 55-6017181) the testamentary beneficiary of their account is what is needed.

Additional instructions about how the client wants the funds to be used are appropriate. Please contact us with questions or if your client has already made such a beneficiary designation and wants to specify how the future gift is to be used.