Whenever you review or revise your estate plans, we hope you will consider including the American Red Cross as a beneficiary.  Bequests through wills, living trusts, life insurance and other beneficiary designations are popular for many good reasons: 

1. "Giving through my estate plan means I don’t have to worry about outliving my financial resources"
2. "I can always change my mind;"
3. "I want to leave a legacy that truly makes a difference."

In planning estate gifts, remember that certain assets may result in both income taxes and "death taxes" if you leave them to family members.  Examples include:

Savings Bonds.  Bonds are a savings tool used by millions of Americans – in part because income taxes on the interest are generally postponed until the bonds are cashed.  But if bonds eventually pass to your heirs, they will be saddled with the income tax, and possibly "death taxes", as well.  You can erase all taxes by changing your will or revocable living trust to specifically leave savings bonds to the American Red Cross.

Retirement plans.  A combination of "death taxes" and income taxes can severely deplete your 401(k), 403(b) or IRA savings, leaving little remaining for your heirs.   But you can include the Red Cross as a beneficiary of your IRA or other plan and escape taxes completely.  Just contact the trustee or custodian of your account for the appropriate forms.

We encourage you to contact our office at 1-800-797-8022, ext. 5, plndgiving@usa.redcross.org or log on to www.redcrosslegacy.org if any of these ideas are of interest to you, or if you have already made a gift through your estate plan. News of bequest intentions is extremely helpful in our future planning and gives us the opportunity to thank you.