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Beneficiary Designation Gifts

A beneficiary designation gift is a simple and affordable way to make a gift to support Gospel for Asia. You can designate GFA as a beneficiary of a retirement, investment or bank account or your life insurance policy.

Beneficiary Designation Gifts
Donor
Beneficiary
Account Administrator
Plan, account, policy, or fund
GFA
Charity image

Maximum Impact with Minimum Time

A beneficiary designation is a quick and inexpensive way to support the work of GFA after you go to be with the Lord. Simply contact the administrator of your

  • IRA, 401(k) or another retirement plan,
  • bank account,
  • investment account, or
  • life insurance policy
to complete and sign their beneficiary form. You could designate GFA as the beneficiary of all or a portion of your plan, account or policy.

This one quick action could impact countless people's lives for eternity.

Benefits of Charitable Beneficiary Designations

  • You can continue to use your plans and accounts throughout your lifetime.
  • No expensive legal fees are needed to set it up.
  • Beneficiaries can be changed easily at no cost to you.
  • It can reduce the tax burden for your family.
  • Your estate will receive a charitable tax deduction.
  • Beneficiary designations are not subject to public probate.
  • Your gift to GFA can start bringing help and hope to people in Asia soon after you leave this earth.

Something to Consider

Of the assets listed above, retirement assets may be the most cost-effective assets to donate to charity. Retirement assets left to heirs other than your spouse could be heavily taxed, leaving only a portion of their value to those you love. If you plan to include charitable gifts in your estate plan, consider naming GFA as the beneficiary of your retirement assets while leaving cash and other investment assets to your heirs. Why? Charities are tax exempt and, unlike your heirs, are not required to pay taxes on IRAs and other retirement plans. You may want to leave your heirs assets like your home or stocks that can step up in basis to fair market value when you pass away. This permits your heirs to sell these assets with little or no tax due and make use of their full inheritance. Providing more funding for heirs and the Lord's work, along with less taxes for heirs could be considered wise stewardship.

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