Beneficiaries of your Retirement Plan or your IRA
Designate CHRISTUS Children’s Foundation as a beneficiary of part or all of your qualified retirement plan or your IRA. Normally, the assets held in an IRA or qualified retirement plan will be subject to both income and estate taxes, but if you name CHRISTUS Children’s Foundation as a beneficiary of a percentage (or all) of your plan, that portion will pass to CHRISTUS Children’s Foundation, free of income or estate taxes.
Payable on Death Bank Account Designation
Designate your bank account to be payable on death (POD) to CHRISTUS Children’s Foundation. There is no change in ownership, control, or benefit from this account while you’re living. The POD designation causes whatever funds that remain in the account to go to CHRISTUS Children’s Foundation at your death.
Transfer on Death Brokerage or Investment Account Designation
Designate your brokerage or investment account to be transferable on death (TOD) to CHRISTUS Children’s Foundation. It’s not necessary for the TOD designation to transfer all of the account solely to CHRISTUS Children’s Foundation. You can designate percentages of the account to pass to additional beneficiaries. To set up the transfer on death endorsement, contact your investment advisor and provide the instructions regarding the change.