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You are at: Planned Giving > Gift Options > How to Give > Beneficiary Designation Gifts

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Make a Future Gift of Retirement Assets

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Thank you for considering a IRA gift to us. A sample letter is available to send to your DAF provider. You may save and print the PDF of your letter. If you have email contact information for your DAF provider, you may send a PDF copy of your DAF letter or you may copy and paste the text into an email. You will need to enter the amount of your recommended grant and your DAF account number on the letter before mailing. If you would like to notify us of your generous gift, please complete the Notify us of your DAF Gift section.

Beneficiary Designation Gifts

Donating part or all of your unused retirement assets, such as your IRA, 401(k), 403(b), pension, or other tax-deferred plan, is an excellent way to make a gift to Western Seminary.

If you are like most people, you probably will not use all of your retirement assets during your lifetime. You can make a gift of your unused retirement assets to help further our mission.

Flowchart: Donor executes designation form with account custodian to designate as beneficiary of a retirement, investment or bank account.

Benefits of gifts of retirement assets

  • Simplify your planning
  • Support the causes that you care about
  • Continue to use your account as long as you need to
  • Heirs can instead receive tax-advantaged assets from the estate
  • Receive potential estate tax savings from an estate tax deduction

How to make a gift of retirement assets

To leave your retirement assets to Western Seminary, you will need to complete a beneficiary designation form provided by your retirement plan custodian. If you designate Western Seminary as beneficiary, we will benefit from the full value of your gift because your retirement assets will not be taxed at your death. Your estate will benefit from an estate tax charitable deduction for the gift.

Future gifts from your retirement assets

Did you know that 40%-60% of your retirement assets may be taxed if you leave them to your heirs at your death? Another option is to leave your heirs assets that receive a step up in basis, such as real estate and stock, and give the retirement assets to Western Seminary. As a charity, we are not taxed upon receiving an IRA or other retirement plan assets. You can use the "Make a Future Gift of Retirement Assets" tool to contact your retirement plan custodian and designate a future gift to Western Seminary.

Contact us

If you have any questions about gifts of retirement assets, please contact us. We would be happy to assist you and answer any questions that you have.

Example Stories

Using a Beneficiary Designation to Make a Gift to Charity

Joanne and her late husband Hal had been longtime supporters of our organization. Recently, Joanne's children encouraged her to update her estate plan. Joanne thought that was a great idea. In fact, she had been thinking about meeting with her attorney to discuss how she could make a significant gift to support our work.

Joanne: Hal and I were passionate about Western Seminary's mission. We even volunteered regularly. After Hal passed away, I wanted to make a gift that would honor his memory.

When she met with her attorney, Joanne explained her goals and described her assets. She'd inherited Hal's IRA, which when combined with her own, would provide her with the necessary retirement security she needed. She even had enough to allow her to take regular vacations and splurge on gifts for the grandkids.

Joanne: I had originally thought about leaving my IRA to our kids and other assets to charity. My attorney suggested a different strategy and told me that an IRA is a great gift to leave to charity. He explained that if my kids inherited the IRA, my estate would pay estate taxes and my kids would pay income tax on the IRA. But, by giving the IRA to charity and other assets to my kids, the kids will still receive a nice inheritance, and we avoid income and estate taxes entirely!

Joanne: Making a gift of my IRA was easy! I contacted my IRA custodian, who emailed me an IRA beneficiary designation form. I completed the form, named Western Seminary as the primary beneficiary of my IRA and mailed it back to the custodian. I called Western Seminary to tell them about my gift, and they were very touched. I know Hal would be happy too. Best of all, I can continue to use my IRA for as long as I live, and when I pass away, my IRA will go to charity.

Is a beneficiary designation gift right for you?


If you own a qualified retirement plan, such as an IRA, 401(k) or 403(b) and would like to make a charitable gift, your family or your estate might benefit if you update your beneficiary designation form naming our organization as a beneficiary. Beneficiary designation gifts may help your heirs avoid paying income tax on certain inherited assets and may help your estate avoid estate taxes.

If you have questions about making a beneficiary designation gift, please contact us. We would be happy to work with you and answer any questions that you have.

*Please note: The name and image above is representative of a typical donor and may or may not be an actual donor to our organization. Since the benefits of each gift may be different, you should seek the advice of your legal, tax or financial advisor.

Transferable on Death (TOD) Gifts

Harold and Jeanne married after meeting at an event Western Seminary held for our donors. They wanted to leave a legacy gift that would support our mission and ensure that we remain financially strong well into the future.

Harold: Jeanne and I have always felt a strong connection to Western Seminary and their work. Over the years we have seen the organization grow and help so many people. We wanted to make sure that they have the means to continue to grow for years to come.

Jeanne: We talked to our investment advisor about planning goals and explained that we wanted to support Western Seminary. Our advisor suggested a simple solution — naming Western Seminary as a beneficiary of one of our mutual funds.

Marcus, who was Harold and Jeanne's investment advisor, suggested that Harold and Jeanne use a "transferable on death" or "TOD" form. Marcus explained that because Harold and Jeanne jointly owned the account, the TOD beneficiary designation form would ensure that they can benefit from the mutual fund during their joint lives, that the survivor of the two of them would continue to own the mutual fund for the rest of the survivor's life, and that after both pass away, the mutual fund would be transferred to Western Seminary. Marcus provided the proper TOD beneficiary designation form, and Harold and Jeanne were easily able to complete the paperwork before they left Marcus's office.

Jeanne: We really liked Marcus's idea. Making a TOD gift was simple to set up and will let us continue to use the mutual fund to meet our needs in retirement.

Harold: I like knowing that if I pass away, Jeanne will have enough to meet her needs. We both like knowing that Western Seminary will receive the mutual fund after both of us pass away. We couldn't be happier with our giving strategy.

Is a transferable on death (TOD) gift right for you?

If you own stocks, bonds or mutual funds and would like to make a gift to leave a legacy and support Western Seminary, consider a transfer on death gifting strategy. If you have questions about transfer on death giving strategies, please contact us. We would be happy to assist you and answer any questions that you have.

*Please note: The name and image above is representative of a typical donor and may or may not be an actual donor to our organization. Since the benefits of a TOD gift may differ depending on your personal circumstances, please consult with your legal, tax or financial advisor.

Gift of a Bank Account When No Longer Needed (POD)

Keith has been a faithful supporter of Western Seminary and makes regular gifts to support our work. Recently, Keith talked to our staff and expressed his interest in naming Western Seminary as a beneficiary of his estate, but he wanted to keep the process as simple and inexpensive as possible.

Keith: I love volunteering at Western Seminary. It really gives me a sense of joy and fulfillment. I not only support the organization with my time, I try to make annual gifts as well. As a donor, I want to leave a meaningful gift to Western Seminary in my estate plan.

One day, Keith talked to Sharon, another one of our volunteers. Sharon told Keith that she recently made a "payable on death" or "POD" gift to Western Seminary. Keith asked Sharon to explain how the gift works. Sharon told Keith that with a POD gift, he could contact his bank or credit union and request a POD beneficiary designation form. By filling out the form and sending it back to his credit union, Keith could direct the credit union to pay the balance of any account he designates to charity when he passes away.

Keith: Sharon shared a lot of great information about POD gifts. I decided to name Western Seminary as the payable on death beneficiary of two accounts at my bank. Not only was the process simple — it didn't cost a thing. I also liked that a POD gift gives me flexibility-I still own the accounts and can use the money in those accounts if my needs ever change.

Is a payable on death (POD) gift right for you?

If you would like to leave a gift to our organization that is simple, inexpensive and flexible if your needs change, please consider a payable on death bequest. If you have questions or would like to learn more about POD beneficiary gifts, please contact us. We would be happy to assist you and answer any questions that you have.

*Please note: The name and image above is representative of a typical donor and may or may not be an actual donor to our organization. Since the benefits of a POD gift may differ depending on your personal circumstances, please consult with your legal, tax or financial advisor.

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