A beneficiary designation is one of the simplest ways to make a gift to Feed My People. No need to get a lawyer. It's literally as easy as filling out a form.
You can specify the individuals and charities you want to support and you can also specify the percentage of the assets you want each beneficiary to receive. Beneficiary designations are available when giving the following assets:
Retirement Assets - An alternative to a bequest gift is to designate Feed My People as the beneficiary of your retirement assets. You can control the transfer of these assets at your death without changing your will or living trust. All you need to do is request (and complete) a new beneficiary designation form from your plan administrator. There is no need to modify your will or living trust.
A gift of retirement assets has the added advantage of being among the most tax-wise ways to make an estate gift. Your retirement assets, if left to individuals, will be subject to income tax when they receive distributions and, in the case of most non-spouses, those distributions must take place within 10 years, potentially pushing designated beneficiaries into higher tax brackets. With a gift to a non-profit such as Feed My People, 100 percent of the funds are available for its charitable purposes. If you want to remember us in your estate plan, it is often better to leave other types of assets – cash, securities, real estate – to your heirs and give the more heavily taxed retirement asset to Feed My People.
Life Insurance - Life Insurance policies can also be used to make a gift to the Feed My People. Complete and return to the insurance company a form designating that the Feed My People receives all or a portion of the death benefit associated with your life insurance policy.
Commercial Annuity Contracts - a commercial annuity will sometimes have a remaining value at the end of the annuitant’s lifetime. You can name Feed My People to receive all or part of this amount by designating it as a beneficiary (sole or partial) on the appropriate form from the insurance company.
Bank Accounts - you can instruct your bank to pay Feed My People all or a portion of what remains in a checking or savings account. Your bank can provide you with the appropriate beneficiary designation form.