Beneficiary Designations Are Easy and Flexible
Not everyone wants to commit to making a gift in their will or estate. Some prefer the increased flexibility that a beneficiary designation provides by using:
- IRAs and retirement plans
- Life insurance policies
- Commercial annuities
It only takes three, simple steps to make this type of gift. Here's how to name William Penn University as a beneficiary:
- Contact your retirement plan administrator, insurance company, bank or financial institution for a change-of-beneficiary form.
- Decide what percentage (1 to 100) you would like us to receive and name us, along with the percentage you chose, on the beneficiary form.
- Return the completed form to your plan administrator, insurance company, bank or financial institution.
Download our FREE guide Beneficiary Designations: The 3 Easiest Ways to Leave Your Legacy.View My Guide
Make Sure You Have a Plan for All Your AssetsDownload My FREE Personal Estate Planning Kit
See How It Works
An Example of How It Works
Robert and Carol treasure the financial help they've been able to give their children and William Penn University over the years. The couple recently updated their will to leave stocks and real estate to their kids. They left William Penn University a $75,000 IRA to be transferred following their lifetime. Because William Penn University 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 percent marginal income tax bracket.
- Contact Marsha Riordan at 641-673-1045 or email for additional information on beneficiary designations and how they can help support William Penn University with our mission.
- Talk to your financial or legal advisor to learn which assets will or will not trigger taxable income when paid to a beneficiary.
- If you name William Penn University in your plans, please use our legal name and federal tax ID.
Legal Name: William Penn University
Address: Oskaloosa, IA
Federal Tax ID Number: 42-0707120