Gifts by Beneficiary Designation

A convenient way to make 
an impact in the future.

A convenient way to make
an impact in the future.

Gifts by Beneficiary Designation

Retirement Assets

An alternative to a bequest gift is to designate the Adler School as the beneficiary of your retirement assets. This gift is simple because you can control the transfer of these assets at your death without changing your will or living trust. All you need to do is request (and complete) a new beneficiary designation form from your plan administrator. There is no need to modify your will or living trust.

For U.S. supporters, a gift of retirement assets has the added advantage of being among the most tax-wise ways to make an estate gift. This is because your retirement assets, if left to individuals (other than a spouse), will be subject to income tax in addition to any applicable estate tax. With a gift to a non-profit such as the Adler School, 100 percent of the funds are available for its charitable purposes. If you want to remember us in your estate plan, it is often better to leave other types of assets – cash, securities, real estate – to your heirs and give the more heavily taxed retirement asset to the Adler School.

Life Insurance

Life Insurance policies can also be used to make a gift to the Adler School. Complete and return to the insurance company a form designating that the Adler School for Professional Psychology receives all or a portion of the death benefit associated with your life insurance policy. As an alternative to naming the Adler School as the beneficiary, you can transfer ownership of the policy. Transferring ownership results in income tax savings in the year of the gift.

Other Assets (applicable only to U.S. supporters)

Commercial Annuity Contracts - a commercial annuity will sometimes have a remaining value at the end of the annuitant’s lifetime. You can name the Adler School to receive all or part of this amount by designating it as a beneficiary (sole or partial) on the appropriate form from the insurance company. 

Bank Accounts - you can instruct your bank to pay the Adler School all or a portion of what remains in a checking or savings account. Your bank can provide you with the appropriate beneficiary designation form.

Investment Accounts - you can instruct your investment company to transfer to the Adler School some or all investments held in the account at the time of your passing. Your broker or agent can let you know the process for doing this – it may be as simple as adding “T.O.D. to Adler School for Professional Psychology” after your name on the account.

If you have any questions, please contact Anthony Chimera, Vice President for Institutional Advancement via email or by calling 312-662-4031.