Naming Hammond School as the beneficiary of all or a portion of your retirement assets is one of the most tax-advantaged ways to make a charitable gift.  Retirement assets are subject to two taxes at death:  income tax and estate tax.  Naming Hammond School as beneficiary of all or a portion of the retirement plan or IRA avoids both taxes. Since the combined taxes on retirement, plan assets can run as high as 75% to 80% for some taxpayers, a gift from a retirement plan rather than a gift from other estate assets may leave more for family.  Make sure you talk with your estate-planning professional before changing your beneficiary designation to ensure the best result.