Make a Gift in 3 Easy Steps
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:
- IRAs and retirement plans
- Life insurance policies
- Donor advised funds
- Commercial annuities
- Bank and brokerage accounts
It only takes three simple steps to make this type of gift. Here's how to name the University of Michigan as a beneficiary:
- Contact the administrator of your retirement plan, insurance policy, bank or brokerage account or donor advised fund for a change-of-beneficiary form or simply download a form from your provider's website.
- 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 Easiest Ways to Leave Your Legacy.View My Guide
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An Example of How It Works
Robert and Carol treasure the financial help they've been able to give their children and U-M over the years. The couple recently updated their will to leave stocks and real estate to their kids. They left U-M a $75,000 IRA to be transferred following their lifetime. Because U-M 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.
See How It Works
- Contact the Office of Planned Giving at 734.615.2022 or firstname.lastname@example.org for additional information on beneficiary designations and how they can help support U-M 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 U-M in your plans, please use our legal name and federal tax ID.
Legal Name: Regents of the University of Michigan
Address: 3003 S. State Street, Ann Arbor, MI 48109
Federal Tax ID Number: Please contact us for our federal tax ID number.