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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:
It is very simple to name the American Museum of Natural History as a beneficiary. Start by requesting a change-of-beneficiary form from your policy administrator or download the form from your provider's website. Make your desired changes and return the form to establish your gift.
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Kai and Kim treasure the financial help they've been able to give their children and the Museum over the years. The couple recently updated their will to leave stocks and real estate to their kids. They left the Museum a $75,000 IRA to be transferred following their lifetime. Because the Museum is tax-exempt, all $75,000 will help support our mission.
If Kai and Kim 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. Kai and Kim 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.
Legal name: American Museum of Natural History
Address: 200 Central Park West, New York, NY 10024
Federal tax ID number: 13-6162659
Download our FREE guide Beneficiary Designations: Easy Ways to Leave Your Legacy.