Beneficiary Designation

A beneficiary designation, or payable on death directive, is a form you complete for your checking, savings, CD, investment or other accounts. It tells your account administrator what to do with the funds when you pass away. The administrator sends the funds to the people and/or charities you choose.

The administrator provides this form to you, often online. It usually only takes a couple of minutes to complete. As with a bequest, it is important for you to have our proper name, contact information and tax ID number if you wish to make us a beneficiary of the account. You can do this for almost any type of financial account, including retirement accounts. Its benefits are fantastic, especially considering how easy it is to complete.

Since the funds only transfer upon your passing, you maintain full ownership and use of the funds without any obligations.

Ideal for: 

Someone with funds held by financial institutions who wants to name their church as the ultimate beneficiary.
 

SIMPLICITY

You fill out a straightforward form your financial institution gives you. It costs you nothing to file this form. 

 

FLEXIBILITY

You can change your mind as often as you want to change the form.