Life Insurance
Life Insurance policies can be used to make gifts to BSW Dallas Foundation in two ways.
- Name the foundation as a beneficiary of the policy. To name the foundation as a beneficiary, complete a change of beneficiary form (provided by your insurance company) either online or by mailing a copy to them.
- Transfer ownership of the policy to the foundation. Transferring ownership to us provides you an immediate income tax charitable deduction and potential income tax savings in the year of the gift. The foundation would then be both owner and beneficiary of your policy.
Other Assets
Commercial Annuity Contracts - a commercial annuity will sometimes have a remaining value at the end of the annuitant’s lifetime. You can name BSW Dallas Foundation to receive all or part of this amount by designating it as a beneficiary (sole or partial) on the appropriate form from the insurance company.
Bank Accounts - you can instruct your bank to pay BSW Dallas Foundation all or a portion of what remains in a checking or savings account. Your bank can provide you with the appropriate beneficiary designation form.
Investment Accounts - you can instruct your investment company to transfer to BSW Dallas Foundation some or all investments held in the account at the time of your passing. Your broker or agent can let you know the process for doing this – it may be as simple as adding “T.O.D. to Baylor Scott & White Dallas Foundation” after your name on the account. (T.O.D. means "transfer on death".)