Humane Society International

Beneficiary Designations

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© The Stelter Company The information in this publication is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results. Steve Maughan Senior Director, Planned Gifts & Estates Humane Society International 1255 23rd St. NW, Suite 450 Washington, DC 20037 800-808-7858 smaughan@humanesociety.org The Importance of Updating Your Designations Beneficiary designations can be modified at any time to meet your changing needs. Your assets may never reach your intended recipients if you've failed to keep the beneficiary designations up to date. Experts suggest reviewing them every two to three years when you review your entire estate plan. Also be sure to notify the beneficiaries so they can claim the proceeds. We want to work with you to create a gift that best fits your circumstances and our needs. To learn more about the benefits of designating HSI as beneficiary of your retirement assets, life insurance or commercial annuities, please contact us today. can either contact your insurance company or agent and request and complete a beneficiary designation form or download the form from your provider's website. Then mail it back to the insurance company. Keep a copy for your records. 3 ] Commercial Annuities Commercial annuities are tax-heavy assets to own, similar to retirement plans and IRAs. They carry an income tax burden when paid to your named beneficiary. The income tax is due on the growth of the annuity—in other words, what its value is worth when you die over what you paid for it. The tax burden makes these assets another popular choice to leave to a tax-exempt organization like ours. Similar to the process for making gifts of retirement plan assets and life insurance, to complete a gift from your commercial annuity, contact your bank, insurance company or financial institution for a change-of-beneficiary form for the annuity or download the form from your provider's website. Decide what percentage of the annuity's value you would like us to receive and name us along with the stated percentage on the beneficiary form. Then mail it back and keep a copy for your records. How to Obtain Beneficiary Forms (if you prefer not to download from their website) Retirement plans and IRAs. Contact the administrator of your retirement plan or IRA. Life insurance. Contact the life insurance company or your agent. Commercial annuities. Contact the bank, insurance company or financial institution.

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