With One Simple Choice, You Can Do Amazing Things
There is a simple way to make sure what you love lasts — and it’s easier than you may think. Creating a beneficiary designation gift is speedy and does not cost you anything now. Instead, it allows you to take savings you have accrued over time and put it to good use.
All it takes is a few minutes and a simple form to complete your gift. And you may even be able to change your beneficiary designation online. Completing that quick task can result in transformative change for your church or other ministries when making a gift through the ELCA Foundation.
The following assets allow you to designate a beneficiary or beneficiaries:
- Retirement plans
- Individual retirement accounts (IRAs)
- Life insurance policies
- Donor advised funds
- Bank or brokerage accounts
Remember, your beneficiary designations don’t have to be all or nothing. You can give a percentage of an asset, with the rest going to loved ones or other worthy nonprofits. The ELCA Foundation can simplify the process through the use of a donor-directed distribution agreement, which allows you to make all your charitable gifts with one beneficiary designation.
The legacy you leave behind can make good things happen for years into the future. The options are as endless as your generosity.
Did You Know…
If you leave your retirement plan or IRA to a person, they will lose a portion to federal income taxes. Nonprofit organizations such as the ELCA Foundation won’t. We can put the entire amount of your gift to good use.
Notify Your Beneficiaries
Once you have created your gift, make sure you share the good news with the people and places you name on your form. Financial institutions sometimes won’t inform beneficiaries about or administer a gift to them. If the ELCA Foundation is part of your plan, we’d love to celebrate and want to be sure we know how you want your gifts to be used. Contact your regional gift planner today to let us know or to get our help during the process.