Planned Giving

Most people won’t need all the money in their IRA or other retirement plan. If you leave the remainder to your heirs, there will be income tax to pay, and maybe state or federal estate taxes. If you leave the remainder to us, there will be no taxes due. Changing the beneficiary of an IRA is not difficult to do. Simply request a change of beneficiary form from the company managing the plan and follow the instructions.

It is possible to rename a bank savings account in such a way that at your death whatever remains in the account passes automatically to us. While you are living, only you can put money in or take anything out of the account. This is a revocable arrangement, meaning you can always become the sole owner again. It is easy to do. Simply tell the bank officer that you want to rename the account as “(Your name) in trust for Pinnacle Living”.

The terminology for a stock account future gift is a TDO, or transfer on death account. Speak with your broker and say you want to rename the account in such a way that anything in the account at your death automatically becomes the property of our organization.

If you have life insurance you have probably named your spouse, children or other relative as the beneficiary. We are not suggesting that you change that, just that you include us as well. We’re happy for whatever you choose to leave us! As with the gift from an IRA, it is a fairly simple matter to request a change of beneficiary form from the insurance company and follow the instructions.