Gifts from bank and investment accounts

Bank and investment accounts 

An often-overlooked vehicle, your daily checking and savings accounts can be managed outside of your estate. Use a “pay on death” (P.O.D.) provision for a bank account, a certificate of deposit or a “transfer on death” (T.O.D.) provision for certain other investment accounts. You retain full ownership and access to the assets during your lifetime, and the person or charity receives only what is left at the end of your lifetime. It is also possible in some states to transfer real estate in this way. Contact your bank manager, financial advisor or attorney for assistance in documenting your wishes. 

Retirement plan gifts 

Name the IDSA Foundation as a beneficiary of your retirement plan or individual retirement account. Funds from these accounts may subject your heirs to federal income tax, so it may be wise to make charitable gifts from these sources. In most states with a “Retirement or IRA designation of beneficiary form,” you can name the IDSA Foundation as the recipient of all or a portion or any assets remaining in your financial accounts.