Leave a Legacy:
Life Insurance & Investment Annuities
You can give a gift benefiting Barrow using your Investment Annuity or your Life Insurance Policy by designating Barrow Neurological Foundation as a beneficiary.
Gift Your Investment Annuities
Investment annuities are a popular way to save for retirement and a smart way to support Barrow Neurological Foundation. An investment annuity acts like a retirement account and does not get a step-up in basis at death, like many other types of assets. That means if you are able to leave your annuity to your heirs, they will have to pay taxes, unlike other assets that get a step-up in basis. When you take distributions from the investment annuity, or if you leave it to your heirs, the gains can be taxed as ordinary income.
Gift Your Life Insurance
There are many ways to gift life insurance including beneficiary designations, transfer of ownership, and creating a new policy.
Investment annuities are a popular way to save for retirement and a smart way to support Barrow. An investment annuity acts like a retirement account and does not get a step-up in basis at death, like many other types of assets. That means if you are able to leave your annuity to your heirs, they will have to pay taxes, unlike other assets that get a step-up in basis. When you take distributions from the investment annuity, or if you leave it to your heirs, the gains can be taxed as ordinary income.
Considerations
It is best to speak with a financial advisor when considering gifting annuities, as annuity contracts can have unique complexities.
It is advised to obtain two professional opinions when considering life insurance gifts.
Learn more about maximizing your gift!
Emily Lawson, Senior Director of Philanthropy
[email protected] | 602.406.1051
Barrow Planned Giving Options
As you think about your estate planning, consider leaving a legacy gift to Barrow Neurological Foundation in your will or trust to make a meaningful impact for years to come.
Retirement accounts often are the best assets to donate to charitable organizations, such as Barrow Neurological Foundation, during your lifetime and in your legacy.
A donor advised fund (DAF) is a “charitable savings account” that allows you to receive a deduction the year you need it most and give to charities and causes that are meaningful to you over time.
Create an income for life and a legacy that supports research, patient care, and education at Barrow.
There are many ways to gift life insurance and investment annuities.
Appreciated assets, including real estate, rental property, vacation homes, business assets, and business interests, are great ways to give to Barrow Neurological Foundation.
If you transfer stock to Barrow Neurological Foundation, we will be able to sell the stock tax free, allowing you to avoid any capital gains tax you would otherwise have to pay.
The information provided is not intended as legal or tax advice. For such advice, please consult an attorney, financial or tax advisor.