If you are interested in making a gift but are also concerned about your future needs, keep in mind that beneficiary designations are among the most flexible of all charitable gifts.
Even after you complete the beneficiary designation form, you can take distributions or withdrawals from your retirement, investment or bank account and continue to use your account freely. You can also change your mind at any time in the future for any reason, including if you have a loved one who needs your financial help.
Benefits of a Charitable Beneficiary Designation
- Support the causes you care about
- Continue to use your account as long as you need to
- Simplify your planning
- Reduce the burden of taxes on your family
- Receive an estate tax charitable deduction
How a Beneficiary Designation Works
- To make your gift, contact the person who helps you with your account or insurance policy, such as your broker, banker or insurance agent.
- Ask her/him to send you a new beneficiary designation form.
- Complete the form designating Berkshire Taconic Community Foundation, sign it and mail it back to your broker, banker or agent.
- After your lifetime, your account or insurance policy will be paid or transferred to BTCF, consistent with the beneficiary designation.
Examples of Popular Beneficiary Designation Gifts
- Designate BTCF as a full, partial or contingent beneficiary of your retirement account (IRA, 401(k), 403(b) or pension)
- Name BTCF as a beneficiary of your life insurance policy
If you have already designated us as a beneficiary of an asset or as part of your estate plan, please let us know. We would like to recognize you and your family for your gift.
