Not everyone wants to commit to making a gift in their will or estate. Some prefer the increased flexibility that a beneficiary designation provides by using:
- IRAs and retirement plans
- Life insurance policies
- Commercial annuities
It only takes three, simple steps to make this type of gift. Here's how to name Metrolina Association for the Blind as a beneficiary:
- Contact your retirement plan administrator, insurance company, bank or financial institution for a change-of-beneficiary form.
- Decide what percentage (1 to 100) you would like us to receive and name us, along with the percentage you chose, on the beneficiary form.
- Return the completed form to your plan administrator, insurance company, bank or financial institution.
An Example of How It Works
Robert and Carol treasure the financial help they've been able to give their children and Metrolina Association for the Blind over the years. The couple recently updated their will to leave stocks and real estate to their kids. They left MAB a $75,000 IRA to be transferred following their lifetime. Because MAB is tax-exempt, all $75,000 will help support our mission.
If Robert and Carol had left the IRA to their children, approximately $18,000* would have gone to pay federal income taxes-leaving only $57,000 for their family's use. Robert and Carol are happy knowing they are making the most of their hard-earned money thanks to their updated estate plan.
To learn more about how to leave your legacy with MAB, contact Susan Hammersmith, Director of Advancement at (704) 887-5103 or firstname.lastname@example.org, or Karen Rech, Senior Vice President of Advancement at (704) 887-5111 or email@example.com.
*Based on an assumption of a 24% marginal income tax bracket. Information contained herein was accurate at the time of posting. The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor.