A gift from a retirement plan, life insurance policy, or commercial annuity.
Assets in retirement accounts such as an IRA, 401(k), or 403(b) will be distributed to those individuals and charitable organizations you have named in a beneficiary designation form. To include RS for a gift from a retirement account, request a change of beneficiary form from your account administrator. You can name RS to receive all or a portion of the remaining funds in the account. Using a beneficiary designation for your gift may reduce the amount of income taxes paid from these assets. It’s easy and can make a lasting difference for future generations of RS congregants.
You can name RS as a beneficiary for all or a portion of the death benefit of a life insurance policy. In some cases you can transfer ownership of a life insurance policy to RS, which may provide tax benefits.
Some commercial annuity contracts will permit you to name a beneficiary if there are assets left at the last annuitant’s passing. If you own such an annuity contract this may be a way that you can make an estate gift for the future of RS.
Donor Advised Fund
If you have a donor advised fund and the sponsoring charity allows you to suggest those charitable organizations to receive any remaining funds at your passing, consider suggesting RS as one of the charitable organizations to benefit from your donor advised fund.
1) Contact the administrator who handles your retirement accounts, life insurance policy, commercial annuity, or donor advised fund. Request a change of beneficiary form.
2) Complete the change of beneficiary form and include a gift for RS for whatever amount is right for you. Sign the form and return it to the account administrator.
3) Contact Catherine Fischer at firstname.lastname@example.org so the Congregation can welcome you into The Legacy Society. You can be an anonymous member if you wish.
This information is not intended as legal, tax, or financial advice. When considering a gift of this nature, always consult your professional advisors.