A beneficiary designation lets you pass any amount you wish to Audubon Arkansas free of estate and income taxes.
Given a choice about how to divide assets in your estate, philanthropically inclined people find it more tax-efficient to give retirement assets to Audubon Arkansas and leave their heirs other property. This strategy saves both income taxes and estate taxes, because a tax subject estate can take a charitable deduction for the amount left to Audubon Arkansas. Designating retirement/financial accounts to your heirs or non-charity beneficiaries may substantially diminish the inheritance.
The simplest way to make the gift is by directly naming Audubon Arkansas on the beneficiary designation form. It is important to note that naming a beneficiary within the framework of your will is not sufficient; you must complete the appropriate paperwork provided by your plan's administrator. Also federal law requires that a married person designate his/her spouse as the benefieiary under this plan unless the spouse consents to the naming of another benficiary. If you are married and have not desinated your spouse as 100% primary beneficiary, you must mail in a signed and notarized Spousal Consent Form in order for the designation to be valid. These forms are available with your plan's administrator.
It is also helpful to have this information in our files so that we honor your wishes to the best of our ability.
Beneficiary designations are one of the simplest, fastest and most successful ways to give to Audubon as these legacy gifts are the sustaining foundation of our vital conservation work!
Please contact Uta Meyer at (501) 244-2229 or email@example.com to request a form or if you have any questions.