GIVING USING A BENEFICIARY DESIGNATION. EASY FOR YOU. FAVORABLE FOR YOUR HEIRS.
Mark Nunez, 75, is a retired business executive who has accumulated $500,000 in the retirement plan that he set up through his company years ago. He takes minimum distributions from his plan in order to preserve as much tax-free growth inside the plan as he can. At this rate, he expects that his account may still be worth $500,000 when he dies.
Mark has reached the time in his life when he has begun thinking about the legacies he wants to leave behind after he is gone. He decides to leave a bequest to Westminster Ingleside Foundation to create an endowed fund that will perpetuate generous support in his name. To accomplish his goals, he designates 40% of the final balance in his retirement account for Westminster Ingleside Foundation.