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4 Easy Ways to Become Designated as a Planned Gift Beneficiary
Recently I found myself wondering…. “why aren’t we promoting beneficiary designations more?”
A beneficiary designation is by far the simplest way to create a planned gift. Plus it’s a great way to avoid probate. And anyone can do it easily. A donor just needs a pen, a beneficiary designation form, and the desire to create a legacy gift.
So let’s promote the following:
- Life insurance policies
- Retirement plans such as 401(k), 403(b), IRA, and pensions. Remember, if there is no American spouse in the picture, retirement plans may be taxed by as much as 76%. So leaving retirement assets to a nonprofit is “tax-wise” as well as charitable.
- Bank accounts allow donors to designate a “pay on death” beneficiary.
- Investment accounts include a “pay on death” beneficiary too!
Let’s remind supporters that they can include your nonprofit as a full or partial beneficiary. Remind them that it’s easy to do.
And don’t forget to ask to be notified once it’s done so you can thank and recognize the donor’s generosity!
Keep in mind that beneficiary designations apply to almost every adult age group. So you can use social media if your marketing budget is small.
Get the book!
Feeling like your job is getting harder because donor expectations have changed and competition for the charitable dollar is growing?
Finding that the old orthodoxies and conventions espoused by so-called experts in online echo-chambers and at conferences don’t work anymore?
Want to help more people make impact by facilitating their acts of philanthropy but feel like too many obstacles keep getting in your way?
Then this book is for you.
Engagement Fundraising was developed from the perspective of a donor who discovered firsthand that the impersonal, spray-and-pray approaches of his beloved charity were not only offensive but also wasteful and ineffective. So he took action. And now, you can too.
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In addition to the four items above, the following three can also be used to make a legacy gift through beneficiary designation:
1) individual stocks and bonds
2) donor advised funds
3) commercial annuities
Indeed! Thanks Greg Lassonde!!
In addition to the four items above, the following three can also be used to make a legacy gift through beneficiary designation:
1) individual stocks and bonds
2) donor advised funds
3) commercial annuities
Indeed! Thanks Greg Lassonde!!