Invest in Leadership


Giving through a Beneficiary Designation


Donating through a beneficiary designation involves naming a charitable organization, such as the Pat Tillman Foundation, as the recipient of certain assets or benefits upon your death. This can be done in various financial accounts, insurance policies, retirement plans, and other similar arrangements.

For example, you might designate the Pat Tillman Foundation as the beneficiary of a life insurance policy, retirement account, or investment account. Upon your death, instead of the assets going to an individual, they would go directly to the Pat Tillman Foundation.

There are several benefits to donating through a beneficiary designation:

  1. Simplicity: It’s a straightforward way to make a charitable gift. Once you’ve designated the charity as the beneficiary, there’s no need for additional paperwork or legal steps.
  2. Avoidance of Probate: Assets designated to a charity typically bypass the probate process, which can save time and money for your estate and beneficiaries.
  3. Control: You retain control over your assets during your lifetime, knowing that they will support your chosen charity after your death.
  4. Tax Benefits: Depending on your jurisdiction and the type of asset donated, there may be tax advantages associated with charitable beneficiary designations. For example, in the United States, charitable donations may be deductible from your taxable income.
  5. Legacy: It’s a meaningful way to leave a lasting impact and support causes that are important to you.

When considering donating through a beneficiary designation, it’s essential to consult with legal and financial professionals to ensure that your wishes are carried out effectively and to understand any tax implications or other considerations specific to your situation and jurisdiction.