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Gifts Made Through Your Estate PlanBeneficiary Designation Gifts

A beneficiary designation gift is a simple and affordable way to make a gift to support the University of Indianapolis. Not everyone wants to commit to making a gift in their wills, some prefer the multiple advantages that a gift by beneficiary designation provides:

Flowchart: Donor executes designation form with account custodian to designate UIndy as beneficiary of a retirement, investment or bank account.

Benefits of a Beneficiary Designation Gift

  • Flexibility

    • 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.

      Beneficiary designation gifts allow you to provide for family and support the University of Indianapolis. With a designation form you could, for example, name your spouse as the "primary" beneficiary and each of your children and the University of Indianapolis 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 the University of Indianapolis in whatever shares (or percentages) that you chose on the designation form.

  • Simplicity
    • (and no legal fees!)
  • Legacy

    • Support the future of the University of Indianapolis

Make a gift in 3 simple steps

  1. 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.

Assets that use Beneficiary Designations

  • Retirement Accounts
  • Life insurance
  • Brokerage or investment accounts
  • Commercial annuity contracts
  • Donor Advised Funds
  • Bank accounts

Terms

Beneficiary Designation

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

Payable on Death

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

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

More Information

Next Steps:

Contact UIndy's Office of Gift Planning at 317-791-2553 or [email protected] for additional information on beneficiary designations or to speak with Darcy about which asset gift is right for you.

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