Beneficiary designation

A beneficiary designation is one of the simplest ways to make a gift to Bucknell University. It's as easy as filling out a form.  You can specify the individuals and charities you want to support, as well as the percentage of the assets you want each beneficiary to receive.

The following commonly owned assets allow you to designate a beneficiary: 

Retirement assets

Designating Bucknell as beneficiary of your retirement assets is easy—there is no need to change your will or living trust. Simply request a new beneficiary designation form from your plan administrator, list Bucknell University among your beneficiaries at the percentage you wish, and return it to your plan administrator.

Retirement assets, if left to individuals, will be subject to income tax as distributions are received and, in the case of most non-spouses, those distributions must take place within 10 years. This can potentially push designated beneficiaries into higher tax brackets. However, designating Bucknell, a tax-exempt charity, beneficiary of your retirement assets allows 100% of the funds to be used for its charitable purposes. When including Bucknell in your estate planning, it is often better to leave other types of assets – cash, securities, real estate – to your heirs and give the more heavily taxed retirement asset to Bucknell University.

Life insurance
Designating Bucknell as beneficiary of your life insurance policy is also easy—as with designating retirement plans, there is no need to change your will or living trust. Simply request a beneficiary designation form from your insurance carrier, list Bucknell University among your beneficiaries at the percentage you wish, and return it to your insurance carrier.

Other assets

  • Commercial annuity contracts -  commercial annuities with a value remaining at the end of your lifetime can designate Bucknell recipient of these funds.
  • Bank accounts - many banks allow you to designate beneficiaries, including Bucknell, to receive any funds remaining in your bank account at your death, called a pay on death (POD) account.
  • Investment accounts - many investment companies allow you to designate beneficiaries, including Bucknell, to receive any assets remaining in your investment account at your death, called a transfer on death (TOD) account.

University Advancement

Location

301 Market St.
Suite 2

Hours

8:30 a.m. – 4:30 p.m.