JULY 14 • 2022 | 57

Kent at Ferguson Widmayer & 
Clark PC in Ann Arbor says, 
“If you leave your retirement 
assets to your loved ones, they 
typically have to pay income 
tax on the retirement assets, 
unless they are Roth accounts, 
even if your overall estate does 
not meet the threshold for 
estate taxes. This is because 
retirement assets have not yet 
been taxed before they are 
withdrawn,” she continues. 
“However, leaving all or 
part of your retirement assets 
to a nonprofit organization 
provides an even greater 
benefit to the organization 
and ‘more bang for your buck’ 
because the charities are tax-
exempt; therefore, after your 
death, they can withdraw the 
assets from the retirement 
account without having to 
pay income taxes on the 
withdrawal, leaving a greater 
net benefit from you.”
Prior to the pandemic, many 
Baby Boomers did not have 
wills or did not think about 
leaving part of 
their estate to 
charity. Attorney 
Stephen Cheifetz, 
LIFE & LEGACY 
volunteer and 
partner at 
Strosberg Sasso 
Sutts LLP in Windsor, clarifies 
that under Canadian income 
tax rules, a donation tax credit 
may be claimed for qualifying 
charitable gifts made by an 
individual through his or her 
will, by the estate or by direct 
designation. “By your estate 
making a qualifying charitable 
donation, it winds up paying 
less income tax than it would 
have paid otherwise.” 

For info on leaving part of your estate 

to Jewish organizations in Ann Arbor or 

Windsor, contact Osnat Gafni-Pappas 

at osnat@jewishannarbor.org or Richie 

Kamen at richard@jewishwindsor.org. 

Stephen 
Cheifetz

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