BENEFICIARY DESIGNATIONS: RETIREMENT & FINANCIAL ACCOUNTS
One of the easiest ways you can make a long-term difference — without writing a check today — is by designating Northstar Search and Rescue a beneficiary of a financial account beyond your lifetime.
Having a comprehensive estate plan in place means having a will and or trust and ensuring your retirement and financial accounts have up-to-date beneficiary designations. Just as you’ll designate your loved ones as beneficiaries of your retirement or life insurance policy, you can designate your favorite charities as beneficiaries in-line with your values and vision for the future.
Such a simple act can have a profound mission impact.
COMMON ACCOUNT TYPES
Donate from your 401(k), 403(b), or IRA after your lifetime to avoid potential double taxation if given to heirs.
Donating from what’s left in your account(s) could reduce estate and inheritance taxes.
Just 10% of the average life insurance policy can be a substantially larger gift than most people can make during their lifetime
DONOR-ADVISED FUNDS (DAF)
Ensure that your funds designated for charity all go to charity.
STOCKS AND INVESTMENTS ACCOUNTS
Donate appreciated assets after your lifetime free from capital gains tax.
UNITED STATES SAVINGS BONDS
Donate savings bonds to save your heirs from excess taxation.
IT’S A SIMPLE PROCESS
1. Log-in to or contact the institution that manages your retirement, brokerage, or other account.
2. Complete a beneficiary designation form online or request that they mail you the form.
3. Include our details in the form:
4. Submit the completed form to your financial institution – and that’s it! The process could take as little as five or ten minutes.
The information presented here is for educational purposes only. Always consult a legal or tax advisor to determine what is best for you.