Easy Ways to Give to ASHRAE Foundation

You’ve probably had charitable causes that you support ask you to remember their organization in your will. If you have already done so, congratulations and please understand that we appreciate your thoughtfulness. Please let us know if you have designated ASHRAE Foundation as a beneficiary of your will so that we can be sure that we carry out your wishes.

If you have already completed your estate plan, you know that the process can be expensive and emotionally challenging. There are easier ways to leave a legacy to ASHRAE Foundation that is less expensive and do not require the help of a lawyer.

These innovative ways to give rely on beneficiary designations. You can make ASHRAE Foundation the beneficiary of your IRA, insurance policies, financial accounts or even your real estate without having to change your will or living trust.

Types of beneficiary designations

A beneficiary designation indicates who is to receive a particular asset upon the owner’s passing. Most often, this is done through a beneficiary designation form, which is completed at the time the asset is established and may be changed thereafter at any time by the asset owner. You can make charitable gifts at death by designating ASHRAE Foundation as a beneficiary.

While this type of gift can apply to many assets, the basic options are as follows:

• IRA and Qualified Retirement Plan Designations
  You can designate that ASHRAE Foundation receive all or a portion of what remains in your IRA (regardless of the type of IRA) or in most qualified retirement plans, such as 401(k) and 403(b) plans. The custodian of the account simply furnishes you with a form that can be completed and returned to the custodian.

• Bank Accounts
  A “pay on death” account involves instructing a bank to pay to ASHRAE Foundation all or a portion of what remains in an account when the donor dies. 

• Brokerage Accounts (securities, bonds, mutual fund shares)
  A “transfer on death” account entails giving essentially the same instruction to a brokerage firm with regard to investments held in the account at the time of the donor’s death. The particulars of each arrangement will depend on the bank or brokerage firm in question.

• Life Insurance and Commercial Annuity Contracts
  You simply complete and return to the insurance company a form designating that ASHRAE Foundation receive all or a portion of the death benefit associated with your life insurance policy or the remaining contract value, if any, associated with your commercial annuity.

It’s easy to use a beneficiary designation to benefit ASHRAE Foundation. Simply request the appropriate form and indicate the percentage or amount you want to leave to ASHRAE Foundation. Beneficiary designations are flexible. You have complete control of the assets during your life and can change the designation at any time to suit your needs.