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Naming MSF on a retirement or other account, or on a life insurance policy, is a simple way to provide for MSF’s future without writing or re-writing your will or living trust. These assets will pass directly to MSF without going through the probate process. Please ask your retirement plan administrator or institution for the appropriate form.
The following are some common assets for which beneficiary designations may be made.
Many donors name MSF as a beneficiary of all or a specified percentage of their IRA, 401(k), 403(b) or other retirement plan.
Because retirement assets are subject to both income and estate tax, they are often considered among the best assets to leave to charity. Individuals who inherit retirement plan assets must in most cases pay income tax on them.
As a charity, MSF would not pay taxes on these assets and would have full use of them.
There may be tax and financial planning implications in naming beneficiaries of a retirement plan, so you should consult with your attorney or tax advisor in arranging for the disposition of these assets.
Bank and Investment Accounts and Commercial Annuities
You may leave a legacy for MSF by naming us as a Transfer-on-Death (TOD) or Payable-on-Death (POD) beneficiary on a bank or investment account or a commercial annuity, where permitted by state law and the financial institution.
Life Insurance Policies
If you have a life insurance policy that is no longer needed for your family, designating MSF as a beneficiary offers a simple way to support our work.
How to Name MSF:
Ask your retirement plan administrator or institution for a change of beneficiary or other appropriate form. Please identify MSF on the form as follows:
We hope that you will let us know when you have made a beneficiary designation for MSF so that we may thank you and include you in our Legacy Society.
Benefits of a Beneficiary Designation:
To learn more or to notify MSF of your beneficiary designation, please contact Beth Golden, Planned Giving Officer, at 212-655-3771 or email@example.com.