Beneficiary Designations Are Easy and Flexible
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A beneficiary designation is one of the easiest ways to make a gift to STH. It’s as simple as filling out a form — a small, quick action that can have a big, enduring impact on future generations of St. Thomas Eagles.
You don’t have to alter your current will. An easy addition to your arrangements could benefit generations of St. Thomas men down the road.
Name STH as a beneficiary of retirement assets such as IRA, 401(k), or 403(b) funds by completing a beneficiary designation form with your financial advisor and give a tax-wise gift to St. Thomas.
You can specify STH receives all or a portion of the death benefit on your fully-paid life insurance by using a beneficiary designation form. Alternatively, you can transfer ownership of the policy to STH, which results in income-tax savings for you the year the gift is transferred.
Banking Accounts, Stock, Bonds and Mutual Funds
At your financial institutions or brokerage accounting firms, request a form on which you can identify your preferred beneficiaries.
An Example of How It Works
Robert and Carol treasure the financial help they've been able to give their children and St. Thomas over the years. The couple recently updated their will to leave stocks and real estate to their kids. They left St. Thomas a $75,000 IRA to be transferred following their lifetime. Because St. Thomas 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
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- Contact Mark deTranaltes at 713-341-5557 or firstname.lastname@example.org for additional information on beneficiary designations and how they can help support St. Thomas 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 St. Thomas in your plans, please use our legal name and federal tax ID.
Legal Name: St. Thomas High School
Address: 4500 Memorial Drive, Houston, TX 77007
Federal Tax ID Number: 74-1143093
The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.