Make a Gift in 3 Easy Steps
Not everyone wants to commit to making a gift in a will or estate. Some prefer the increased flexibility that a beneficiary designation provides by using:
- IRAs and retirement plans
- Life insurance policies
- Commercial annuities
It only takes three simple steps to make this type of gift. Here's how to name the the Women's Foundation of Minnesota as a beneficiary:
- Contact your retirement plan administrator, insurance company, bank or financial institution for a change-of-beneficiary form.
- Decide what percentage (1 to 100) you would like us to receive and name us, along with the percentage you chose, on the beneficiary form.
- Return the completed form to your plan administrator, insurance company, bank or financial institution.
An Example of How It Works
Robert and Carol treasure the financial help they've been able to give their children and the Women's Foundation (WFMN) over the years. The couple recently updated their will to leave stocks and real estate to their kids. They left WFMN a $75,000 IRA to be transferred following their lifetime. Because WFMN is tax-exempt, all $75,000 will help support our mission.
If Robert and Carol had left the IRA to their children, approximately $18,000* would have gone to pay federal income taxes—leaving only $57,000 for their family's use. Robert and Carol are happy knowing they are making the most of their hard-earned money thanks to their updated estate plan.
*Based on an assumption of a 24 percent marginal income tax bracket.
See How It Works
- Contact Lizzie King at 612-236-1832 or email@example.com for additional information on beneficiary designations and how they can help support WFMN with our mission.
- Talk to your financial or legal advisor to learn which assets will or will not trigger taxable income when paid to a beneficiary.
- If you name WFMN in your plans, please use our legal name and federal tax ID.
Legal Name: Women's Foundation of Minnesota
Address: 105 Fifth Ave. South, Suite 300 Minneapolis MN 55401
Federal Tax ID Number: 41-1635761
The information in this publication is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results.