A Beneficiary Designation clearly identifies how specific assets will be distributed after your death.
Many don’t realize that retirement plans, IRAs, life insurance, donor advised funds, and commercial annuities are not affected by a will. These accounts are dispersed according to beneficiary designations. The forms are often easier to update than a will, making them simple ways to leave a legacy.
Just name Indiana University School of Social Work as a beneficiary to receive assets such as retirement plans and life insurance policies after you’re gone. You simply fill out a form that is entirely separate from your will—which makes this approach an easy way to give.
Not only is it an uncomplicated way to give, it’s also flexible—you aren’t locked into the choices you make today. You can review and adjust beneficiary designations anytime you want.