Beneficiary Designations
Give beyond your bank account.
Did you know your retirement account, such as your IRA, 401(k), 403(b) pension or other tax-deferred plan, can support the future of Children’s Health patients and their families?
While retirement accounts used to serve great benefits to heirs, estate and income tax burdens, distribution penalties, and mandatory liquidation timeframes can cause unwanted stressors. Instead, adding Children’s Medical Center Foundation as a charitable beneficiary to your account(s) can make life better for children for generations to come.
Benefits:
- Avoid estate tax implications
- Update beneficiaries at any time for no cost
- Continue to use your account during your lifetime
- Unlike heirs, Children’s Health pays no income tax
- Make life better for children
Looking for additional tax strategies?
Legacy IRA Act
Transfer a one-time gift of up to $54,000 per donor (adjusted annually for inflation) directly from your retirement account to a charity to fund a Charitable Gift Annuity (CGA) and receive secure lifetime income in return. To learn more about how CGAs may work for you, visit our page on CGAs.
Qualified Charitable Distribution
Make a qualified charitable distribution (QCD) from your IRA directly to charity at any time to avoid income taxes on required minimum distributions at the age of 70 ½ or older.
You can also make Children’s Medical Center Foundation a beneficiary of other accounts:
- Checking accounts
- Savings accounts
- Life Insurance policy
- Donor-advised funds
Add a charitable beneficiary today.
To leave your retirement assets to Children's Medical Center Foundation, you will need to complete a beneficiary designation form provided by your retirement plan custodian. When you let us know about your gift, we will include you as a member of our Bradford Legacy Society!
If you have any additional questions about making life better for children through a beneficiary designation, please reach out to giftplanning@childrens.com or 214-456-8360.