Retirement Plan Gifts and Beneficiary Designations

You can support Boys &Girls Aid by simply adding Boys & Girls Aid as a beneficiary on your IRA or other retirement plan. It is the easiest way to ensure that Boys & Girls Aid is accessible for Oregon’s children and families. You can also add Boys & Girls Aid as a beneficiary to your life insurance policy or commercial annuity too.

Designation is simple. You get a copy of your beneficiary designation form from your plan administrator and update the beneficiary list to include a percentage or a specific amount to Boys & Girls Aid. You can update the form at any time giving you flexibility if your financial situation changes.

Potential Scenario

Mike and Theresa feel blessed to offer the financial help they've been able to give their children and Boys & Girls Aid over the years. Now, empty nesters, Mike and Theresa changed their estate plan so it could work harder for the people and causes they love. They updated their will to leave real estate and stocks to their children and grandchildren. And they left Boys & Girls Aid a $25,000 IRA to be transferred after their death. Because Boys & Girls Aid is tax-exempt, all $25,000 will help support our work of ensuring every child has a family.

If Mike and Theresa had left the IRA to their children, approximately $7,000* would have gone to pay federal income taxes—leaving only $18,000 for their family's use. Mike and Theresa are happy knowing they are making the most of their investments.

*Based on an assumption of a 28 percent marginal income tax bracket.

Next Steps

  1. Contact Suzan Huntington at 503.542.2304 or Shuntington@Boys & Girls Aid.org for additional information on beneficiary designations and how they can help support Boys & Girls Aid.
  2. Talk to your financial or legal advisor to learn which assets will or will not trigger taxable income when paid to a beneficiary.
  3. If you name Boys & Girls Aid in your plans, please use our legal name and federal tax ID.

Legal Name: Boys & Girls Aid
Address: 018 SW Boundary Court, Portland, OR 97219
Federal Tax ID Number: 93-0386791

The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax adviser. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results.

 

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