How to Give

Beneficiary designation

3 steps to making a beneficiary gift

Did you know that some assets are not controlled by the terms of you will but instead must be passed by a beneficiary designation? The beneficiaries named on a retirement plan or life insurance policy determine who will receive these funds, even if they are designated differently in your will.

Did you also know that pre-tax accounts such as traditional IRAs may be subject to multiple taxes if left to your heirs or estate? For many people, the most tax advantaged way they can make a gift to VCU through their estate is to name it as a beneficiary of their retirement plan, and to leave other less-taxed assets to their family.

It’s easy as 1, 2, 3!

  • 1. Request a "change of beneficiary" form from your plan administrator.
  • 2. List the appropriate VCU affiliated foundation as beneficiary at the following address:
    • Virginia Commonwealth University
    • Gifts and Records Management
    • Box 843042
    • Richmond, VA, 23284-3042
    • Provide the EIN # for the appropriate VCU affiliated foundation
  • 3. Let us know so we can thank you and welcome you to a legacy society.
Print page

© Planned Giving Marketing. This document is informational and educational in nature. It is not offering professional tax, legal, or accounting advice. For specific advice about the effect of any planning concept on your tax or financial situation or with your estate, please consult a qualified professional adviser.