A beneficiary designation gift is a simple and affordable way to make a gift to support Gospel for Asia. You can designate us as a beneficiary of a retirement, investment or bank account or your life insurance policy.
IRA, 401(k) or another retirement plan,
· life insurance policy or
and complete and sign their beneficiary form. You could designate GFA as the beneficiary of all or a portion of your plan, fund, account or policy.
This one quick action could impact countless people's lives for eternity.
Of the assets listed above, retirement assets may be the most cost-effective assets to donate to charity. 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 charity along with less taxes for heirs could be considered wise stewardship.