Legacy Giving:
Beneficiary Designations
In addition to naming the SLSO in your will or trust, you can also designate the SLSO as a beneficiary or one of the beneficiaries of your retirement plan, life insurance policy, or commercial annuity. Income and estate taxes are not imposed on retirement assets left to a charity. You always have the right to change or amend the beneficiary designation.
Some of the specific instruments in which beneficiary designation apply are:
- Qualified Retirement Plans, IRA, 401(k), 403(k), ESOP*
- Life Insurance
- Commercial annuities
- Payable on Death/Transfer on Death bank accounts or other financial investments
Documenting and letting us know of your beneficiary designations helps us account for your gift in the long-term strategies for the SLSO.
