Beneficiary Designated Gifts
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What is a Charitable Beneficiary Designated Gift?
A Beneficiary Designated Gift is a charitable contribution in which the donor designates Cure SMA as a beneficiary to receive assets or proceeds from a financial account or insurance policy upon the donor's death.
- A Beneficiary Designated Gift involves naming Cure SMA as the beneficiary of assets such as retirement accounts, life insurance policies, or investment accounts.
- The donor designates Cure SMA to receive all or a portion of the assets upon the donor's death.
- This type of gift allows donors to support Cure SMA while also ensuring that their assets are distributed according to their wishes after they pass away.
- Beneficiary Designated Gifts bypass the probate process, potentially reducing administrative costs and delays in distributing assets to beneficiaries.
Benefits from a Charitable Beneficiary Designated Gift:
- Estate tax deduction: Designating a nonprofit organization as a beneficiary can reduce the taxable value of the donor's estate, potentially lowering estate taxes.
- Avoidance of probate: Assets designated to a nonprofit bypass the probate process, ensuring a smoother and quicker distribution of assets to the intended beneficiary.
- Flexibility and control: Donors retain the ability to change beneficiaries or adjust the percentage of assets designated to Cure SMA during their lifetime.
- Legacy preservation: Allows donors to leave a lasting impact by supporting Cure SMA even after they are gone.
How your donation will benefit the SMA community
- Basic research to pave the way for new SMA muscle treatments and a cure
- SMA advocacy initiatives like caregiving access and transportation
- Improving standardized care for every person with SMA
“If it weren't for Cure SMA, we might not have the treatments in place that have helped my daughter to thrive while living with SMA. I'll forever be grateful and do what I can to support Cure SMA."
How a Charitable Beneficiary Designated Gift Works
A donor specifies a nonprofit as the beneficiary of certain assets, such as retirement accounts (e.g., IRA, 401(k)), life insurance policies, or investment accounts (e.g., brokerage or bank accounts). Upon the donor's death, the designated nonprofit organization receives some or all of the assets directly, bypassing the probate process. This allows the nonprofit to benefit from the assets without them being subject to estate taxes or probate fees.
Donors can name a nonprofit as a beneficiary of their retirement accounts, such as an IRA or 401(k) plan, to support charitable causes while potentially reducing estate taxes.
Donors designate a nonprofit organization as the beneficiary of a life insurance policy, allowing the nonprofit to receive the policy proceeds upon the donor's death.
Savvy donors and philanthropic individuals can name a nonprofit as a beneficiary of investment accounts, such as brokerage or bank accounts, ensuring that the nonprofit receives a portion of the assets upon the donor's death.
Contact Us
If you have any questions, would like further information, or want help making your contribution, then please contact us at [email protected] to get started.
Legacy giving typically takes many conversations and is not a fit for everyone. Conversations with Cure SMA about planned giving should be considered general in nature and intended to be used for informational purposes only. It should not be relied upon as legal, tax, accounting, or other professional advice. To determine how a gift or estate planning decision might affect your circumstances, it is expressly recommended that you consult an attorney, financial advisor, or other qualified professional.