Thanks to everyone who helped us share some holiday cheer this season by entering their favorite charities into our holiday drawing! The winner of our $2,500 holiday charity drawing is…
The Wounded Warrior Project aims to raise awareness and support for injured service members through a variety of programs and services. We’re sending an extra thank you to all the Warriors who have served in the past and continue to serve today! Your service and sacrifice are not forgotten.
There are a number of ways to express thanks, and one of them is giving back, which many of you are already doing. Here are a few ideas to help you with your efforts:
Charity as Beneficiary
This is an estate planning technique that will allow the charity of your choice to receive funds when you die. Here is how it works. Some accounts such as 401(k), IRA, life insurance policies and annuities, to name a few, have designated beneficiaries. This is the person(s) or organization(s) you specify to receive the money in the account when you die. You can divide funds however you like. For instance, you could name more than one charity or give a percent to a charity and the remainder to a family member. Be sure to consider this decision in the context of your overall estate plan, particularly the needs of your survivors.