Beneficiary Designations
A Simple Way to Leave a Lasting Legacy
If questions arise along the way, our Planned Giving Office is always glad to help:
Phone: 412.682.1300
Email: StephaniePedersen@Capuchin.com
For many people, beneficiary designations offer one of the easiest and most flexible ways to support the Capuchin friars. By naming the Capuchins as a beneficiary of certain assets, you can make a meaningful future gift – often without changing your will or trust.
This approach allows you to care for the people you love while also supporting the Capuchins.
What Is a Beneficiary Designation?
A beneficiary designation is a simple instruction that directs where certain assets will go at your death. These designations are commonly used for retirement accounts, life insurance policies, and some bank or investment accounts.
Assets that pass by beneficiary designation transfer directly to the named beneficiary and generally avoid the probate process.
Assets Commonly Used for Beneficiary Designations
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You may name the Capuchin friars as a beneficiary of:
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Retirement accounts, such as IRAs, 401(k)s, or 403(b)s
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Life insurance policies
Bank or brokerage accounts that allow Payable on Death (POD) or Transfer on Death (TOD) designations
Your designation may be for all or a portion of the asset, and you may name the Capuchins as a primary or contingent beneficiary.
Why Consider a Beneficiary Designation Gift?
Beneficiary designation gifts are often appealing because they are:
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Simple – Usually completed with a short form provided by the account custodian
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Flexible – You may change or revoke the designation at any time
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Efficient – Assets generally pass outside of probate
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Tax-wise – Certain assets, especially retirement accounts, may be particularly suitable for charitable gifts
From a planning perspective, certain assets – especially retirement accounts – may be particularly suitable for charitable gifts, as they can otherwise be subject to income taxes when left to individuals.
How to Make a Beneficiary Designation Gift
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Contact your account administrator or custodian and request a beneficiary designation form.
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Complete the form using the Capuchins’ legal name and tax identification number.
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Return the form to your custodian and keep a copy with your important records.
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Consider letting the Capuchins know of your plans so we may thank you and ensure your wishes are understood.
A Thoughtful Way to Plan
Many people find beneficiary designations to be a helpful complement to their will or trust. Others use them as a primary way to leave a legacy. In either case, these gifts allow you to plan with care, intention, and peace of mind.
We Are Here to Help
If you have questions about beneficiary designations – or would like assistance identifying which assets may be appropriate – please feel free to reach out to our Planned Giving Office. We are always happy to provide information or speak with you and your advisors.
A Note of Gratitude
Those who support the Capuchin friars through a Qualified Charitable Distribution are remembered with gratitude and prayer. Many also choose to share their intentions with us so we may thank them personally.
Disclaimer
This information is not intended as legal, tax, or financial advice. Please consult your personal advisors before making a gift.