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.