Welcome to our guide on how to create a Beneficiary Designation IRA to support Compassion Without Borders' mission. By designating Compassion Without Borders as a beneficiary of your Individual Retirement Account (IRA), you can leave a lasting legacy that ensures your support carries on for years to come.
What is a Beneficiary Designation IRA?
A Beneficiary Designation IRA is a strategic way to leave a charitable gift to Compassion Without Borders. This method allows you to allocate a portion or the entirety of your IRA assets to our organization after your passing. By naming Compassion Without Borders as a beneficiary, you provide invaluable support to our causes and help us create a brighter future for the animals we serve.
Advantages of Creating a Beneficiary Designation IRA:
1. Tax Benefits: Designating Compassion Without Borders as a beneficiary of your IRA can provide potential tax benefits to your estate. Consult a financial advisor or tax professional to understand the specific advantages in your situation.
2. Flexibility: You retain full control of your IRA assets during your lifetime, and you can adjust your beneficiary designation at any time if your circumstances change.
3. Legacy: Your decision to leave a charitable gift through a Beneficiary Designation IRA reflects your commitment to our mission and values, leaving a lasting impact on the lives of those in need.
Steps to Create a Beneficiary Designation IRA:
1. Review Your IRA Account: Contact your IRA custodian or financial institution to review your account and beneficiary designation options. They can provide you with the necessary forms and guidance.
2. Consult Professionals: It's advisable to consult with a financial advisor, attorney, or estate planner to ensure that your charitable giving aligns with your overall estate planning goals.
3. Choose Compassion Without Borders: When designating a charitable beneficiary, provide the full legal name of our organization: Compassion Without Borders. Our Tax ID (EIN) is 20-4698227.
4. Specify the Percentage: Determine the percentage of your IRA assets that you wish to designate to Compassion Without Borders. This can be a specific amount or a percentage of the total.
5. Complete the Forms: Fill out the required beneficiary designation forms provided by your IRA custodian. Ensure that all information is accurate and up to date.
6. Submit the Forms: Submit the completed forms to your IRA custodian according to their instructions. Keep copies for your records.
7. Inform Us: We deeply appreciate your decision to support us through a Beneficiary Designation IRA. Please inform us of your generous intent, so we can properly acknowledge your commitment and include you in our recognition programs if you desire.
Contact Us:
If you have any questions about creating a Beneficiary Designation IRA or would like more information about Compassion Without Borders' initiatives, please feel free to reach out to our dedicated team:
Email: bequest@cwob.org
Phone: 707-318-3737
Address: 1130 Butler Ave. Santa Rosa CA, 95407
Thank you for considering Compassion Without Borders as a beneficiary of your IRA. Your compassion and support contribute to a better world for all.
Note: This information is provided for general informational purposes and does not constitute legal, financial, or tax advice. Consult with qualified professionals for advice tailored to your individual situation.