Make an Impact for Students in 3 Easy Steps
Beneficiary Designations Are Easy and Flexible
Not everyone wants to commit to making a gift in their wills or estates. Some prefer the increased flexibility that a beneficiary designation provides by using:
- IRAs and retirement plans
- Life insurance policies
- Commercial annuities
It only takes three simple steps to make this type of gift. Here's how to name The University of Alabama as a beneficiary:
- Contact your retirement plan administrator, insurance company, bank or financial institution for a change-of-beneficiary form.
- Decide what percentage (1 to 100) you would like us to receive and name us, along with the percentage you chose, on the beneficiary form.
- Return the completed form to your plan administrator, insurance company, bank or financial institution.
Download our FREE guide Beneficiary Designations: The 3 Easiest Ways to Leave Your Legacy.
An Example of How It Works
Robert and Carol treasure the financial help they've been able to give their children and The University of Alabama over the years. The couple recently updated their will to leave stocks and real estate to their kids. They left The University of Alabama a $75,000 IRA to be transferred following their lifetime. Because The University of Alabama is tax-exempt, all $75,000 will help support our mission.
If Robert and Carol 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. Robert and Carol 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 24 percent marginal income tax bracket.
- Contact W. Vance Bristow at 205-348-4770 or email@example.com for additional information on beneficiary designations and how they can help support The University of Alabama with our mission.
- Talk to your financial or legal advisor to learn which assets will or will not trigger taxable income when paid to a beneficiary.
- If you name The University of Alabama in your plans, please use our legal name and federal tax ID.
Legal Name: The Board of Trustees of The University of Alabama
Address: Box 870123, Tuscaloosa, AL 35487
Federal Tax ID Number: 63-6001138
Information contained herein was accurate at the time of posting. The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. California residents: Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. Oklahoma residents: A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. South Dakota residents: Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.