Beneficiary Designation Gifts

Maximum Impact with Minimum Time

A beneficiary designation gift is a quick and affordable way to support the work of Gospel for Asia. Simply contact the administrator of your retirement plan, investment or bank account or your life insurance policy to complete and sign their beneficiary form.

Beneficiary Designation Gifts

Donor

Designation Form

Account Custodian

Property
(IRA/Investment)

GFA

Benefits of a beneficiary designation gift

• 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.
• It qualifies as a charitable tax deduction for your estate.
• 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.

How a beneficiary designation gift works

1. To make your gift, contact the person who helps you with your plan, account or policy, such as your broker, banker or insurance agent.
2. Ask him/her 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 plan, account or policy will be paid or transferred to Gospel for Asia, 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 plans, and continue to freely use your bank and investment accounts. You can also change your mind at any time in the future for any reason.

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 pre-tax 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.

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 thank you.

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