Beneficiary Designation Gifts
A beneficiary designation gift is a simple and affordable way to make a gift to support Drew University. You can designate us as a beneficiary of a retirement, investment, or bank account; or your life insurance policy.
Flexibility—Most beneficiary designation forms are very flexible. You can name Drew University as a “full” or “partial” beneficiary of your account or life insurance policy. You can also name Drew University as a “primary” or “contingent” beneficiary.
Family Considerations—Beneficiary designation gifts allow you to provide for family and support the causes that matter most to you. With a designation form you could, for example, name your spouse as the “primary” beneficiary and each of your children and Drew University as “partial contingent” beneficiaries. With this arrangement, if your spouse survives you, he or she would receive the account. If not, the account or policy would be paid out to your children and Drew University in whatever shares (or percentages) that you chose on the designation form.
BENEFITS OF A BENEFICIARY DESIGNATION GIFT
- Support the causes that you care about
- Continue to use your account as long as you need to
- Simplify your planning and avoid expensive legal fees
- Reduce the burden of taxes on your family
- Receive an estate tax charitable deduction
HOW A BENEFICIARY DESIGNATION GIFT WORKS
- To make your gift, contact the person who helps you with your account or insurance policy, such as your broker, banker or insurance agent.
- Ask them to send you a new beneficiary designation form.
- Complete the form, sign it and mail it back to your broker, banker or agent.
- When you pass away, your account or insurance policy will be paid or transferred to Drew University, consistent with the beneficiary designation.
If you are interested in making a gift but are also concerned about your future needs, keep in mind that beneficiary designation gifts are among the most flexible of all charitable gifts. Even after you complete the beneficiary designation form, you can take distributions or withdrawals from your retirement, investment or bank account and continue to freely use your account. You can also change your mind at any time in the future for any reason.
CONTACT US
If you have any questions about leaving a beneficiary designation gift to us, please contact us. We would be happy to assist you.
If you have already designated us as a beneficiary of an asset or as part of your estate plan, please let us know. We would like to welcome you as a member of our Acorn Society.