Beneficiary Designations

Beneficiary Designations

Want to learn more about making tax-wise gifts? Download our FREE guide Beneficiary Designations: The 3 Easiest Ways to Leave Your Legacy.

Passionate about supporting The Catholic Foundation with our mission even after your lifetime? It's not only possible, it's easy to do with a beneficiary designation. Just name The Catholic Foundation as a beneficiary to receive assets such as retirement plans and life insurance policies after you're gone. You simply fill out a form that is entirely separate from your will—which makes this approach an easy way to give.

Not only is it an easy way to give, but it's also flexible—you aren't locked into the choices you make today. You can review and adjust beneficiary designations anytime you want.

Check Out This Potential Scenario

Robert and Carol treasure the financial help they've been able to give their children and The Catholic Foundation over the years. Now that their kids are grown, Robert and Carol changed their estate plan so it could work harder for the people and causes they love. The couple updated their will to leave stocks and real estate to their kids. And they left us a $75,000 IRA to be transferred after their death. Because The Catholic Foundation 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% marginal income tax bracket.

Learn How to Fund It

You can name us beneficiary of the following assets:

• Retirement Plan Assets
• Life Insurance
• Commercial Annuities
• Bank Accounts, Certificates of Deposit or Brokerage Accounts

Next Steps

1. Contact Rebecca Harris at 601-960-8477 or [email protected] for additional information on beneficiary designations and how they can help support The Catholic Foundation with our mission.
2. Talk to your financial or legal advisor to learn which assets will or will not trigger taxable income when paid to a beneficiary.
3. If you name The Catholic Foundation in your plans, please use our legal name and Federal Tax ID.

Legal Name: The Catholic Foundation of the Diocese of Jackson
Address: PO Box 2248, Jackson, MS 39225
Federal Tax ID Number: 23-7355930

Make Sure You Have a Plan for All Your Assets.

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.