Not everyone wants to commit to making a gift in their will or estate. Some prefer the increased flexibility of naming a beneficiary in their:
- IRAs and retirement plans
- Donor advised funds
- Life insurance policies
- Commercial annuities
It takes only three simple steps to make this type of gift. Here's how to name Ronald McDonald House Charities of San Diego as a beneficiary:
- Contact your retirement plan administrator, insurance company, bank or financial institution for a change-of-beneficiary form.
- Decide what percentage (1 to 100) you'd like us to receive. Then name us, along with the percentage you chose, on the beneficiary form.
- Return the completed form to your plan administrator, insurance company, bank or financial institution.
An Example of How It Works
Robert and Carol treasure the financial help they've been able to give their children and the House over the years. The couple recently updated their will to leave stocks and real estate to their kids. They left the House a $75,000 IRA to be transferred following their lifetime. Because the House is tax-exempt, all $75,000 will help support our mission.
If Robert and Carol had left the IRA to their children, approximately $18,000* would have gone to pay 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 percent marginal income tax bracket.