Name Baylor Scott & White in Your Retirement Plans
A gift of retirement assets is among the most tax-wise ways to make an estate gift to Baylor Scott & White Irving.
While you may transfer many of your assets through your will or living trust, a document called a beneficiary designation controls distribution of your retirement plans, life insurance policies, commercial annuities and a variety of financial accounts.
A beneficiary designation is one of the simplest ways to make a gift to Baylor Scott & White Irving Foundation. It’s 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 Baylor Scott & White Irving Foundation as the beneficiary of your retirement assets. This gift is simple because 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. This is because your retirement assets, if left to individuals, (other than a spouse), will be subject to income tax when they receive distributions and, in the case of a non-spouse, those distributions may be accelerated.
With a gift to a non-profit such as BSW Irving Foundation, 100% 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 Baylor Scott & White Irving Foundation.
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