Gifts Through Your Retirement Plan or Life Insurance
"I decided to leave my estate to the ACLU. The reason: its long track record of major accomplishments and its incredibly dedicated staff of attorneys and organizers."
Your IRA, Keogh, 401(k), or 403(b) plan is a great way to provide for your retirement. It can also be a golden opportunity to advance the values that have been most important to you in your life.
You can play a personal role in advancing liberty, fairness, and equality by providing now for a future gift through your retirement account. For many people, this is the easiest and most effective way to make a meaningful charitable gift.
- Make withdrawals from your retirement account as usual during your lifetime
- Make a gift that becomes effective only when you and your spouse or partner no longer need the assets
- Donate all or a percentage of the balance of your account
- Request a beneficiary designation form from the financial institution that manages your account. The form can often be found on their web site.
- Complete the form using the below information. American Civil Liberties Union, Inc.125 Broad Street, 18th FloorNew York, NY 10004-2400Tax ID# (enter if asked for a social security #): 13-3871360Phone: 877-867-1025Email: email@example.com
If you need to provide for a spouse, name your spouse as "primary beneficiary", and the ACLU as "secondary beneficiary". The ACLU will receive a gift only if your spouse does not survive you. When the surviving spouse rolls over the IRA to their own name, please also consider designating the ACLU as a beneficiary at that time.
If you expect to have a taxable estate (currently $22.8 million for a married couple for federal estate tax) you may want to support the ACLU with a tax-deductible provision for the ACLU Foundation.
You can also use a beneficiary designation with:
- A life insurance policy
- Employer-provided life insurance
- A bank or brokerage account eligible for "pay on death" or "transfer on death"
- A donor advised fund or "charitable gift fund" account
Take the next step:
Please note: This information is not intended as tax or legal advice. We recommend that you consult with your legal and financial advisors to learn how a gift would work in your circumstances. Laws and regulations governing all gifts and availability of certain life income gifts vary by state.