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Designating a Beneficiary
When Designating A Beneficiary on an LCEF Investment, You...
- Avoid probate (a lengthy and sometimes costly process in which the courts distribute your assets). At your death, designated beneficiaries receive benefits immediately (without a penalty), potentially avoiding the delay, expense, and inconvenience of probate.
- Have the satisfaction of knowing your funds will be distributed to the individuals and/or organizations of your choice.
- Maintain complete control over your account.
- Can change beneficiaries any time you wish.
- Receive estate-tax deductions for bequests to qualified charitable organizations. When you designate a tax-exempt organization as a beneficiary (like LCEF), every dollar is passed on to the ministry. Your gift furthers the Lord's work, and the estate-tax deductions save more money for your heirs.
To designate or change existing beneficiaries, you must complete a Beneficiary Designation Form.
If you're considering leaving some of your LCEF investments to one or more beneficiaries, they will want to know why you chose to invest with LCEF. Just as you periodically review your beneficiary designations to ensure your plans still fit your priorities, you may wish to share with them why LCEF is special to you. We have a brochure that could be helpful in beginning your discussions as well.
If you have questions, call 800-843-5233.