An Easy Way to Make a Future Gift

Who are the named beneficiaries on your IRA, retirement accounts, or life insurance policies? If you don’t immediately know the answer, it’s time to do a quick review to make sure your choices reflect your current situation and wishes. Luckily, updating a beneficiary designation is simple, and your review may reveal a powerful way to meet your charitable goals.

Build a Gift into Your Estate Plan

Certain assets pass by beneficiary designation directly to named recipients, rather than through your will. If you make changes to your will after a marriage, divorce, death, or other major event, review your beneficiary designations as well to make sure they align with your updated plans.

If you are looking for an easy way to fulfill your charitable goals, consider naming us as a charitable beneficiary to receive all or a percentage of the asset. You can even make the gift contingent, so we receive it only if a primary beneficiary cannot receive it. This allows you to keep control of the asset during your lifetime and provides the flexibility to change your plans later.

Plan for Tax Efficiency

Retirement accounts deserve special attention. A loved one who inherits a traditional retirement account will usually be taxed on withdrawals—and may have to withdraw all remaining assets within 10 years. As a tax-exempt organization, we can receive those assets without the same tax burden. It may make sense to use retirement assets for charitable giving while leaving other assets to heirs. Consult your advisors to see if this approach makes sense for you.

Get Started Today

• Review your beneficiary designations to make sure they reflect your wishes.
• Consider whether naming a charitable beneficiary could be a good fit for your plans.
• If so, decide whether to leave all or a percentage of an asset or whether to name us as a contingent beneficiary.
• If you add us to your estate plan, be sure to use our full legal name and tax identification number and keep a copy with your estate planning records.
• Let us know about any gifts in your estate plan! We want the opportunity to thank you for your generosity and welcome you into our legacy society.

Learn more.