How Beneficiary Designations Can Work for Your Donors

Beneficiary designations are easy to set up and don’t require donors to change their will. They are also flexible options and can be changed at any time.

In addition to their loved ones, donors can also use beneficiary designation to support charities or the causes they care about. For example, they can list a nonprofit they have supported as a beneficiary of their IRA, bank accounts or life insurance policies.

Beneficiary designations are part of an overall estate planning process ― all a donor needs to do is contact their financial institution to request the appropriate forms. Donors can name one or multiple beneficiaries. For example, a donor can use some of their assets to make a legacy gift to a charity and use the rest of their assets to provide for family members or other loved ones.

When you’re ready to add beneficiary designations to your fundraising plan, schedule a strategy session with Mariah Brook or Tod Herskovitz.