Would you like to help support Texas Methodist Foundation’s (TMF) mission, or the mission of other charities, without parting with any assets now?

You can do this by naming TMF as a beneficiary of certain assets or accounts you own. This “beneficiary designation” is one of the simplest ways to make a gift to TMF. It is literally as easy as filling out a form.

You can name TMF as the sole beneficiary of your assets or as one of several beneficiaries. For example, you can use some of your assets to make a gift and use the rest to provide for family members or other loved ones.

There are many benefits of making a gift by beneficiary designation:

  • Flexibility: Assets remain in your control should you need them. You can also change your gift designation at any time.
  • Easy to arrange: It does not require a change to your will. 
  • Tax incentives: Funds passing to TMF are not subject to income or estate tax. This means 100% of your gift is available for use by TMF.
  • Family-friendly: You can name family or other loved ones to benefit from some of the asset value, with TMF receiving the remaining portion.
  • Support your cause: Your gift to TMF helps us to seek and discover ways in which we can fulfill the world of God’s imagination.

Assets to consider include: 

Retirement assets: These include IRAs and most qualified retirement plans, such as 401(k) and 403(b) plans. Request a beneficiary designation form from your plan administrator. Distributions* to an individual from an IRA, 401(k), 403(b) or other qualified retirement plan are subject to income tax and in some cases estate tax. In contrast, retirement funds that pass by beneficiary designation to charitable organizations, such as TMF, are not subject to either of these taxes.

Life insurance policies: Simply complete and return to your insurance company a form designating that TMF receive all or a portion of the death benefit associated with your life insurance policy.
Commercial annuity contracts: A commercial annuity will sometimes have a remaining value at the end of the annuitant’s lifetime. You can name TMF to receive all or part of this amount.=

Bank account: You can instruct your bank to pay to TMF all or a portion of what remains in your checking or savings account.

Investment account: You can instruct your investment company to transfer to TMF some or all of the investments held in your account at the time of your passing. It may be as simple as adding “T.O.D. to TMF” after your name on the account.

Your bank, insurance agent, or investment advisor can provide you with the appropriate Beneficiary Designation Form.

* The only exceptions to the possible double-taxation are distributions from a Roth IRA or distributions attributable to contributions of after-tax dollars to other types of IRA.