Beneficiary Designation on Certain Assets
One of the simplest ways you can help make a difference in a child’s life is to change your beneficiary designation. Remember that you can make the SCIL a full, partial or contingent beneficiary of these assets to achieve your philanthropic goals.
Below is a list of assets you can change the beneficiary on:
- Payable Upon Death
Make the Sullivan County Imagination Library the “payable on death” (POD) beneficiary of a bank account, brokerage account, or certificate of deposit.
- Donor Advised Fund
Name the Sullivan County Imagination Library a beneficiary of a Donor Advised Fund.
- Beneficiary on IRA or Retirement Plan
Change the beneficiary of your retirement plan assets to the Sullivan County Imagination Library.
- Life Insurance Policy
Often overlooked by donors is the option to name the Sullivan County Imagination Library as a beneficiary of your life insurance policy. Note: The SCIL will not assume payments on this policy prior to your death.