Beneficiary Designations

Giving Through Beneficiary Designations

Love for the Least | beneficiary designation

Naming us as a beneficiary of your retirement account, a life insurance policy or a financial account is a simple way to support Love for the Least.

With retirement plan gifts, you can decide whether you want to leave the entire balance or a percentage to Love for the Least. To name Love for the Least as a beneficiary, ask the administrator of your plan for a change of beneficiary form.

Similar to cash gifts, gifts of life insurance policies can provide tax savings. You can name Love for the Least as a primary or contingent beneficiary of a life insurance policy you already own. You may also decide to give a paid-up policy outright because you no longer need it for its original purpose (like the payment of estate taxes).

Many people have bank and investment accounts that they would like to leave directly to family, friends, Love for the Least or other charities after their lifetime. This can often be accomplished using a “pay on death” provision for a bank account or a CD or a “transfer on death” provision for certain other investment accounts. Simply ask your bank manager or office of your financial advisor for the appropriate form. You retain full ownership and access to the funds during your lifetime, and the beneficiary receives only what is left in the account.

Planning Tip: A beneficiary designation is simple to make and only requires an update to a beneficiary form—not a change to your will.

Print Friendly, PDF & Email