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You are at: Planned Giving > Gift Options > How to Give > Beneficiary Designation Gifts

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Thank you for considering a IRA gift to us. A sample letter is available to send to your DAF provider. You may save and print the PDF of your letter. If you have email contact information for your DAF provider, you may send a PDF copy of your DAF letter or you may copy and paste the text into an email. You will need to enter the amount of your recommended grant and your DAF account number on the letter before mailing. If you would like to notify us of your generous gift, please complete the Notify us of your DAF Gift section.

Beneficiary Designation Gifts

A beneficiary designation gift is a simple and affordable way to make a gift to support United Way of Santa Barbara County. You can designate us as a beneficiary of a retirement, investment or bank account or your life insurance policy.

Beneficiary Designation Gifts
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Designation Form
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(IRA/Investment)
UWSBC
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USING YOUR IRA TO MAKE A
FUTURE LEGACY CHARITABLE GIFT

IRA Beneficiary Designation Gifts are Simple, Tax-Smart & Affordable. If you are interested in making a planned gift to United Way, but are also concerned about your current and future needs, know that IRA beneficiary designation gifts are simple, tax-smart and flexible. Talk to your financial advisor about funding legacy gifts with your traditional IRA, which is a taxable asset except when gifted to charity, while leaving other non-taxable assets to heirs.

How an IRA beneficiary designation gift works:

  1. Contact the person who helps you with your account.
  2. Ask them to send you a beneficiary designation form or show you where to find this on-line.
  3. Complete the form, sign it, make a copy for yourself and mail in the original.
  4. When you pass away, your IRA will be distributed consistent with the beneficiary designation.

Your IRA company will not be influenced by what your will or trust says, what your spouse or kids say, or what your trustee says. The most recent IRA beneficiary designation form signed and submitted determines who will inherit your IRA, so it is very important to make sure this designation is up-to-date.

Even after you complete the beneficiary designation form, you can take distributions from your IRA. 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.

Most beneficiary designation forms are very flexible. You can name United Way of Santa Barbara County (UWSBC) as a "full" or "partial" beneficiary of your IRA. You can also name UWSBC as a "primary" or "contingent" beneficiary. Please make sure your IRA designation is current and consider a legacy gift to United Way through your IRA.

If you need help getting directions on naming beneficiaries from your IRA company or we can help in any other way, please contact us.

Benefits of a beneficiary designation gift

  • Support United Way of Santa Barbara County
  • Continue to use your account as long as you need to
  • Simplify your planning and avoid expensive legal fees
  • Reduce the burden of taxes on your family
  • Receive an estate tax charitable deduction

How a beneficiary designation gift works

  1. To make your gift, contact the person who helps you with your account or insurance policy, such as your broker, banker or insurance agent.
  2. Ask them to send you a new beneficiary designation form.
  3. Complete the form, sign it and mail it back to your broker, banker or agent.
  4. When you pass away, your account or insurance policy will be paid or transferred to United Way of Santa Barbara County, consistent with the beneficiary designation.

Important considerations for your future

If you are interested in making a gift but are also concerned about your future needs, keep in mind that beneficiary designation gifts 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 freely use your account. 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.

Most beneficiary designation forms are very flexible. You can name United Way of Santa Barbara County as a "full" or "partial" beneficiary of your account or life insurance policy. You can also name United Way of Santa Barbara County as a "primary" or "contingent" beneficiary

Beneficiary designation gifts allow you to provide for family and support the causes that matter most to you. With a designation form you could, for example, name your spouse as the "primary" beneficiary and each of your children and United Way of Santa Barbara County as "partial contingent" beneficiaries. With this arrangement, if your spouse survives you, he or she would receive the account. If not, the account or policy would be paid out to your children and United Way of Santa Barbara County in whatever shares (or percentages) that you chose on the designation form.

Terminology

Beneficiary designation gifts are simple and straightforward. Common terminology includes "beneficiary designation" but also includes "payable on death" or "transfer on death."

The term "beneficiary designation" is most commonly used when naming beneficiaries of retirement plans or life insurance policies.

The term payable on death (or "POD") typically involves the designation of a beneficiary of a checking account, savings account or certificates of deposit.

Transfer on death (or "TOD") often involves the designation of a beneficiary of stocks, bonds or mutual funds.

Contact us

If you have any questions about leaving a beneficiary designation gift to us, please contact us. We would be happy to assist you.

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. Your gift may qualify you to become a member of our Heritage Club.

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