If you are passionate about supporting the University Maryland, even after your lifetime, a beneficiary designation is an easy, impactful gift to consider. Some prefer the increased flexibility that a beneficiary designation provides by using:
- IRAs and retirement plans
- Life insurance policies
- Donor advised funds
- Commercial annuities
- Bank and brokerage accounts
It is very simple to name Maryland as a beneficiary. Start by requesting a change-of-beneficiary form from your policy administrator or download the form from your provider's website. The form provided to you is entirely separate from your will.
You are not locked into any of the choices you make today. You can review and adjust beneficiary designations at any time.
See How It Works
An Example of How It Works
Robert and Carol treasure the financial help they have been able to give their children and Maryland over the years. The couple recently updated their will to leave stocks and real estate to their kids. They left Maryland a $75,000 IRA to be transferred following their lifetime. Because Maryland 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% marginal income tax bracket.
