A Gift by Beneficiary Designation May Reduce Your Taxes

You can designate HRC as a beneficiary of retirement accounts, life insurance plans, CDs, bank accounts, brokerage accounts, and other assets. It’s as simple as contacting the firm that holds your assets and asking them for a beneficiary form to fill out. Forms are often available online.

Retirement Plan Gift: Retirement assets are among the most heavily taxed, making them an ideal resource for charitable giving once you no longer need the assets yourself. As the charitable affiliate of HRC, the HRC Foundation is exempt from paying the taxes that might otherwise be owed. Consider making the HRC Foundation a beneficiary of your retirement assets and leaving other less-heavily taxed assets to loved ones.

Be sure to let us know if you have included the HRC Foundation as a beneficiary of a retirement account. Providing us with documentation is the best way to ensure that we receive the gift you intend for us.

We’re grateful for supporters like you, who choose these types of gifts that have positive and lasting benefits for our movement now and for years to come.

Sample Beneficiary Designation Form

Life Insurance Gift: Life insurance is an affordable way to leave a gift to HRC while also enjoying tax savings during your lifetime. Benefits include:

  • A significant gift from disposable income at a fraction of the value.
  • Tax saving can be immediately realized.
  • Your donation could reduce final taxes of your estate.
  • Insurance gifts transfer outside the estate.

CDs, Bank and Brokerage Accounts: One of the easiest ways you can help achieve full equality for LGBTQ people is by making HRC the beneficiary of a certificate of deposit, a checking or savings bank account, or brokerage account. Simply request a Pay on Death (POD) or Transfer on Death (TOD) designation form from your financial institution.

Donor Advised Fund Residuals: Final distribution of contributions remaining in a Donor Advised Fund is governed by the contract you completed when you created your fund. We hope you will consider naming the HRC Foundation as a beneficiary of your account. Or, you can name us the beneficiary a portion of the account value, leaving the remaining portion for your heirs to continue your legacy of philanthropy.

View Sample Beneficiary Designation Language

There are many other giving options you may consider. I would love to help tailor your gift to meet your personal and philanthropic objectives. Please contact me directly at west.honeycutt@hrc.org. Thank you for your support.