Make a Gift in 4 Easy Steps
Beneficiary Designations Are Easy and Flexible
Not everyone wants to commit to making a gift in their will or estate. Some prefer the increased flexibility that a beneficiary designation provides by using:
- IRAs and retirement plans
- Life insurance policies
- Commercial annuities
It only takes four, simple steps to make this type of gift. Here's how to name Cambridge in America as a beneficiary:
- Contact your retirement plan administrator, insurance company, bank or financial institution for a change-of-beneficiary form. This form can often be found online and completed electronically.
- Decide what percentage you would like us to receive and name CAm, along with the percentage you chose, on the beneficiary form.
- Return the completed form to your plan administrator, insurance company, bank, or financial institution.
- Tell CAm of your allocation wishes for your gift.
See How It Works
An Example of How It Works
Tom and Martha treasure the financial help they've been able to give their children and CAm over the years. The couple recently updated their will to leave stocks and real estate to their children. They left CAm a $75,000 IRA to be transferred following their lifetime. Because CAm is tax-exempt, all $75,000 will help support Collegiate Cambridge.
If Tom and Martha had left the IRA to their children, approximately $18,000* would have gone to pay federal income taxes—leaving only $57,000 for their family's use. Tom and Martha are happy knowing they are making the most of their hard-earned money thanks to their updated estate plan.
*Based on an assumption of a 28% marginal income tax bracket.