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Beneficiary Designation Gifts
A beneficiary designation gift is a simple and affordable way to make a gift to support Dallas Arboretum and Botanical Society, Inc. You can designate the Dallas Arboretum Foundation as the beneficiary of a retirement, investment, bank account or your life insurance policy.
Important considerations for your future
This can be a great choice if you are interested in making a gift but are also concerned about your future needs. Keep in mind that beneficiary designation gifts are among the most flexible of all charitable gifts. Even after you complete the beneficiary designation form, you can take distributions or withdrawals from your retirement, investment or bank account and continue to freely use your account. In other words, you remain in complete control of your monies until your death. You can also change your mind at any time in the future for any reason, including if you have a loved one who needs your financial help.
What are the many benefits of a beneficiary designation gift?Your gift in support of the garden will allow you to:
- Support the causes, such as the Dallas Arboretum, that you care about so deeply;
- Continue to use your account as long as you need to and however you wish;
- Simplify your planning and avoid expensive legal fees;
- Reduce the burden of taxes on your family; and
- Receive an estate tax charitable deduction potentially reducing any estate taxes your estate may incur.
How does a beneficiary designation gift work?It couldn't be easier and all you need to do is:
- Contact the person who helps you with your account or insurance policy, such as your broker, banker or insurance agent.
- Ask them to send you a new beneficiary designation form.
- Complete the form, sign it and mail it back to your broker, banker or agent.
- Your account or insurance policy will be paid or transferred to the Dallas Arboretum Foundation, consistent with the beneficiary designation, after you pass away.
If you have any questions about leaving a beneficiary designation gift to us, please contact us. We would be happy to assist you.
If you have already designated us as a beneficiary of an asset or as part of your estate plan, please let us know. We would like to recognize you and your family for your gift.
FlexibilityMost beneficiary designation forms are very flexible. You can name the Dallas Arboretum Foundation as a "full" or "partial" beneficiary of your account or life insurance policy. You can also name the Dallas Arboretum Foundation as a "primary" or "contingent" beneficiary.
Family ConsiderationsBeneficiary designation gifts allow you to both provide for your family and support the causes that matter most to you. With a designation form you could, for example, name your spouse as the "primary" beneficiary and each of your children and the Dallas Arboretum Foundation as "partial contingent" beneficiaries. With this arrangement, if your spouse survives you, he or she would receive the account. If not, the account or policy would be paid out to your children and the Dallas Arboretum Foundation in whatever shares (or percentages) that you chose on the designation form.
TerminologyBeneficiary designation gifts are simple and straightforward. Common terminology includes "beneficiary designation" but also includes "payable on death" or "transfer on death." The term "beneficiary designation" is most commonly used when naming beneficiaries of retirement plans or life insurance policies. The term payable on death (or "POD") typically involves the designation of a beneficiary of a checking account, savings account or certificates of deposit, and transfer on death (or "TOD") often involves the designation of a beneficiary of stocks, bonds or mutual funds.
To download our brochure and learn more about Beneficiary Designation gifts, click here.
To download our brochure and learn more about TOD gifts, click here.
To download our brochure and learn more about POD gifts, click here.