A Simple Way to Make an Impact
While many individuals choose to support Feeding America through a gift in their will or estate plan, others prefer the flexibility of a gift via beneficiary designation.
The following assets all have the ability to be designated, and you may choose the exact percentage you wish Feeding America to receive:
- IRAs and retirement plans
- Life insurance policies
- Donor advised funds
- Commercial annuities
- Bank accounts, Certificates of Deposit or Brokerage Accounts
A beneficiary designation gift can be completed in minutes. Request a change-of-beneficiary form from your policy administrator or download the form from your provider's website. Make your desired changes and return the form to establish your gift.
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An Example of How It Works
Robert and Carol have been fortunate enough to provide financial help to their children and Feeding America over the years. Knowing they have been able to support their family, as well as their broader community, is something both find very rewarding. They would like to continue doing so via the legacy they will leave behind.
The couple recently updated their will to leave stocks and real estate to their kids. Then, they left Feeding America a $75,000 IRA to be transferred following their lifetime. Because Feeding America is tax-exempt, all $75,000 will go toward their neighbors in need.
If Robert and Carol had left the IRA to their children, approximately $18,000* would have gone toward federal income taxes—leaving only $57,000 for their family's use. Robert and Carol are happy knowing they are making the most of their hard-earned money thanks to their updated estate plan.
*Based on an assumption of a 24% marginal income tax bracket.
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