Gifts That Cost You Nothing Now
Making a gift to Unbound in your will, trust or by beneficiary designation is an easy way to have an impact for those in need for generations to come — and it doesn’t cost anything now.
Gifts in a Will
Making a gift to Unbound that touches lives for years to come is easy to do in your will or trust — and it costs nothing now.
By including Unbound in your will or trust, you can make an impact on future generations of families. Your gift enables Unbound to work on your behalf to support families in gaining access to shelter, food and education in their communities.
A gift in your will is a convenient way to create your legacy of empowering the poor and marginalized of the world.
No Cost
This gift costs you nothing now.
Flexible
You can alter or change your gift at any time.
no minimum required
Every gift makes a difference.
Lasting impact
Your gift will be part of your lasting legacy.
4 simple ‘no-cost-now’ ways to give in your will
General Gift
A general gift is a stated sum of money in your will or living trust intended for specific person(s) or organization(s). For example, you might decide to leave each of your favorite charities $10,000. It’s considered to be “general” because it doesn’t specify where the money comes from and how it is to be used.
Residual Gift
A residual gift in a will or trust is the residual value of assets after all debts, taxes and other expenses have been paid.
Specific Gift
A specific gift in a will or trust defines a dollar amount, percentage or fraction of the estate, or identified assets (collections, art, books, jewelry, etc).
Contingent Gift
You can mix these no-cost ways together. For example, you might consider leaving a specific percentage (such as 50%) of the residual to Unbound contingent upon the survival of your spouse and other loved ones.
Gifts by Beneficiary Designation
You may find that accounts and insurance policies you set up previously are no longer funds you need. Did you know there are many benefits to designating a charity, such as Unbound, as the beneficiary of those accounts?
It’s easy to use your bank accounts, retirement funds, savings bonds, insurance policies and more to help families out of poverty — and it costs nothing now.
When you name Unbound as a beneficiary of these assets, you make an impact for future generations of children and elders.
Potential benefits to you from designating Unbound as a beneficiary:
Reduce or eliminate taxes
Taxes on retirement assets may be reduced or eliminated.
Reduce or Avoid
You may reduce or avoid probate fees.
No Cost
This gift costs you nothing now to give.
Create your Legacy
Your gift will be part of your lasting legacy.
To name Unbound as a beneficiary of your retirement accounts or insurance plan, contact your financial institution, bank or insurance company to see whether a change of beneficiary form is required.
How to change a beneficiary designation
Access your account online or request a beneficiary form from your custodian (the business holding your money or assets).
Follow the links to change your beneficiary or fill out the form.
Be sure to spell the name of our organization properly: Unbound
Include our tax identification number:
43-1243999
Save or submit your information online or return your Change of Beneficiary Form to your custodian.
Types of Funds to designate
Bank accounts, CDs, brokerage accounts and commercial annuities
This is one of the easiest gifts to give and one of the most useful in accomplishing what you want — partnering with people around the world who need your help.
The next time you visit your bank, you can name Unbound (Tax ID: 43-1243999) as the beneficiary of a checking or savings account, a certificate of deposit or a brokerage account. When you do, you’ll take a powerful step toward serving those in need for generations to come.
Retirement funds gift
When you name Unbound as a beneficiary of your unused retirement funds, 100% of your gift will go toward helping families in need. Since Unbound is tax-exempt, there is no tax on this gift, ensuring that all of your designated fund goes to making an impact rather than paying taxes. You may also avoid potential estate tax on retirement assets. To name Unbound as a beneficiary of your retirement plan, contact your retirement fund account holder to see whether a change of beneficiary form is required.
Savings bonds
If you have bonds that have stopped earning interest and you plan to redeem them, you might owe income tax on the appreciation. That could result in your heirs receiving only a fraction of the value of the bonds in which you invested. Since Unbound is a tax-exempt institution, naming us as a beneficiary means that 100% of your gift will go toward helping those in need.
Donor advised fund (DAF) residuals
What remains in a DAF is governed by the contract you completed when you created your fund. When you name Unbound as a “successor” of your account or a portion of your account value, your impact lives for future generations.
Life Insurance Policies
If you have a life insurance policy that has outlasted its original purpose, you can use it to fund a legacy gift.
By retaining the policy and naming Unbound as a beneficiary of the policy, the proceeds of your policy will be paid to Unbound and your estate will receive the tax deduction from the charitable gift receipt.
Another option, perhaps when your family is young or keeping in mind a sponsored friend, is for you to name Unbound as the contingent beneficiary. This allows you to make sure you have provided for your loved ones or sponsored friend should you pass away before them, while also potentially providing a legacy gift to Unbound to help others beyond your lifetime.
The gift is easy to arrange — contact your policy administrator to receive a Change of Beneficiary form and use this beneficiary designation information.
Creative Ways to Make a Major Impact
Gifts That Cost You Nothing Now
Gifts That Pay You Income
Gifts That Reduce Your Taxes
Gifts That Make an Impact Now
Your Giving Toolkit
Have questions? WE’RE here to help!
Michael J. Calabria, CAP®
Chartered Advisor in Philanthropy
Planned Giving Director
The content found on this site is general in nature and intended to be used for informational purposes only. It should not be relied upon as legal, tax, accounting or other professional advice. To determine how a gift or estate planning decision might affect your particular circumstances, it is expressly recommended that you consult an attorney, financial advisor or other qualified professional.