Beneficiary designations

You can name FMA as a beneficiary of your Individual Retirement Account (IRA), qualified pension plan, life insurance, Donor Advised Fund (DAF), bank or brokerage account. Making a gift by beneficiary designation costs nothing to make now and you won’t have to give away assets you depend on.

Benefits of beneficiary designations:

• Easy to do at no cost
• Flexible and can change as your needs change
• Maintain control of your assets for as long as you need them
• Bring material aid and spiritual care to people in need as part of your legacy

Life insurance

You may have a life insurance policy you purchased years ago and no longer need. You can name FMA as a full, partial, or contingent beneficiary of the policy. You can also sign over a fully paid policy and receive a tax deduction for your gift.

IRA, 401Ks, and other retirement plan assets

As retirement plans are taxed differently than other assets, they can become a tax liability when inherited. Designating FMA as a beneficiary of these assets can reduce or eliminate this liability. You can name FMA on the beneficiary designation form to receive a specific percentage of your account value or as a contingent beneficiary.

Bank & brokerage accounts

Assets like bank and brokerage accounts, Certificates of Deposit (CDs) and savings bonds can be wonderful gifts to FMA to sustain our works of charity. Simply name FMA as the payable-on-death (POD) or transfer-on-death (TOD) beneficiary of these assets.

Donor advised funds 

You can name FMA as the beneficiary of your entire fund, or a percentage, and leave the balance in your Donor Advised Fund (DAF) to allow your children and grandchildren to continue your philanthropy.