A “beneficiary designation” is one of the easiest ways to make a legacy gift to Birmingham First. Typically, this can be done by simply completing a form that lists our church as the beneficiary or as one of several beneficiaries. Beneficiaries can be designated on bank accounts, insurance policies, retirement accounts, donor-advised funds, and other financial accounts.
There are many advantages to making a legacy gift through a beneficiary designation.
- Flexibility: Accounts remain your control throughout your lifetime.
- Easy to Arrange: A beneficiary designation does not require a change in a will or legal counsel.
- Revocable: Should circumstances change, beneficiary designations can be easily modified or revoked.
- Tax-Advantaged: Funds given to our church through beneficiary designation are not subject to income or estate taxes.
- Family-Friendly: Through beneficiary designation, an asset can easily be shared among several beneficiaries including family members and charities.
Additional information about beneficiary designation and other strategies for leaving a legacy of faithfulness consistent with your life commitments is available from the Rev. Shawn Lewis-Lakin, our associate pastor for Planned Giving. Contact Pastor Shawn at slewis-lakin@fumcbirmingham.org or 734-717-8947.
