Would you like to help support UC Riverside, without changing your will or parting with any assets now? 

You can by naming UC Riverside as a beneficiary of certain financial assets or accounts you own. This is called a “beneficiary designation” and is one of the simplest ways to make a gift to UC Riverside. It is literally as easy as filling out a form. 

You can name UC Riverside as the sole beneficiary or as one of several beneficiaries. For example, you can use some of your account to make a legacy gift to UC Riverside and use the rest to provide for family members or other loved ones. 

There are many benefits of making a gift by beneficiary designation: 

  • Flexibility: Assets remain in your control should you need them. You can also change your gift designation at any time.   
  • Easy to arrange: There’s no need to change your will. 
  • Tax incentives: Funds passing to UC Riverside are not subject to income or estate tax. This means 100% of your gift is available for use by UC Riverside.   
  • Family-friendly: You can name family or other loved ones to benefit from some of the asset value, with UC Riverside receiving the remaining portion. 
  • Support your cause: Your gift to UC Riverside helps the next generation. 

Assets to consider include: 

Retirement assets: These include IRAs and most qualified retirement plans, such as 401(k) and 403(b) plans. Request a beneficiary designation form from your plan administrator and designate UC Riverside as a beneficiary of a percentage of your plan balance. 
Note: Retirement assets can be taxed at 50% % or higher if you leave them to someone other than a surviving spouse. This is because distributions from a qualified retirement plan are subject to income tax and estate tax too. 

In contrast, retirement funds that pass by beneficiary designation to charitable organizations such as UC Riverside are not subject to either of these taxes. From a tax standpoint, a transfer of assets remaining in an IRA or other retirement account can be an excellent charitable contribution. 

Life insurance policies: Simply complete and return to your insurance company a form designating that UC Riverside receive all or a portion of the death benefit associated with your life insurance policy. 

Commercial annuity contracts: A commercial annuity will sometimes have a remaining value at the end of the annuitant’s lifetime. You can name UC Riverside to receive all or part of this amount by designating it as a beneficiary (sole or partial) on the appropriate form from the annuity company. 

Bank account: You can instruct your bank to pay to UC Riverside all or a portion of what remains in your checking or savings account. Your bank can provide you with the appropriate Beneficiary Designation Form. 

Investment account: You can instruct your investment company to transfer to UC Riverside some or all of the investments held in your account at the time of your passing. Your broker or agent can let you know the process for doing this – it may be as simple as changing the name on the account.

Thank you for considering a legacy gift to UC Riverside. We’d be happy to work with you and your advisors to craft a charitable gift that works for you. To start a conversation please contact our Office of Gift Planning.