Why beneficiary designations are so powerful
Assets not included in your will are called non-probate assets. Examples are 401(k)s, IRAs, life insurance policies, and other accounts. Designating Four County Community Foundation as a beneficiary can have a big impact and may avoid unwanted taxes for your heirs.
Legacy Gifts are a personal means to ensure that your own passions in life are continued into the future. In my days as a Kindergarten and First Grade teacher I saw firsthand the importance of early literacy. In the past few years I have been privileged to work with a group of dedicated volunteers to establish the 4CCF Friends of Imagination Library fund, sending books into the homes of children from birth to their fifth birthday at no cost to the family. It is my hope that by making a Legacy Gift to this fund, the project will continue well into the future and touch the lives of countless children, developing a love of reading.Kathy Markel
Common gifted assets for beneficiaries
- Life insurance
- Joint real estate
- Joint bank accounts
- Joint property ownership
Designate Four County Community Foundation as a beneficiary to one or more of your accounts.
We have partnered with FreeWill to offer this free online platform that will walk you through the process of setting up your beneficiaries. These gifts have a big impact and can often prevent unwanted taxation.
Four County Forever
A gift in your will creates a foundation for the future. Our work today is important, but it is equally, if not more important, to ensure Four County Community Foundation can continue well into the future.
In the mid 90’s I fell heir to the medical and administrative care of three elderly women: my mother, my Dad’s cousin, and my aunt. I found that is was not easy to find assistance in keeping elderly “loners” in their homes as long as physically and medically possible. I am pleased to be able to assist 4CCF, both personally and financially, in establishing assistance programs for the needs of the elderly.
Frequently Asked Questions
A non-probate asset is an account or other asset that won’t be governed by the decisions you make in a will. Instead, these accounts commonly have an assigned beneficiary that you choose. Types of non-probate assets include many retirement accounts, life insurance, some bank accounts and some assets (like a house or vehicle) that you jointly own with another person.
The most commonly gifted non-probate asset is an IRA or 401(k). This is because these accounts are always taxed (even for people below the estate tax threshold). Giving these accounts to charity keeps your heirs from having to pay unexpected taxes.
Yes! Even if you have a will in place you still need to designate beneficiaries for your non-probate assets.
Yes! Gifts of any size are deeply appreciated. Many people choose to leave a percentage of their estate, which scales up or down with your estate size.
No. You can usually make these easily and at no cost to you.
Yes. You are always free to revise or update your estate plans.
More ways to make an impact
Gifts in a will or trust
Donations in your will or trust are (by far) the most popular type of planned gift. Learn more, or get help starting your will (for free!).
Gifts that pay you back
Give assets while providing yourself or others with income for a period of time or distributions at a later date.